Below is a chart and brief excerpt from today's Early Look written by Hedgeye CEO Keith McCullough.
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While some of your competitors navel gaze at S&P Futures, in points, don’t forget how important the US Dollar is to both the Repo market and Chinese (US Dollar Denominated) Debt. A #StrongDollar is deflationary. Period. If I have competitors who want to call it disinflation instead of deflation, that’s fine. The ROC (rate of change) in most headline #InflationAccelerating data points will likely have peaked here in JAN/FEB. Global Bond Yields (falling, faster, again) get that. |
