Editor's Note: Below is a brief excerpt and chart from today's Early Look written by CEO Keith McCullough. Click here to learn more about the Early Look.
Thinking about the beginning of the end of this edition of the “Reflation Trade”...
- Headline Inflation (CPI) already rolled over on Friday (US CPI ticked down to +2.1% y/y from the cycle high of 2.7%)
- The comparisons for headline inflation only steepen in the coming 2 months
- The long-end of the curve is betting the Fed fades at 2 hikes on any redo of Reflation’s Rollover (MAR-AUG 2017)
