Just remember, last week at this time, Armageddon was pending for those people who don’t have a #process.
We’ll just go to what we’ve been long since June.
#Inflationaccelerating since June 2020.
And that was the easiest call to make from an asset allocation perspective.
Not only have commodities gone to new cycle highs, up another +4.1% last week, but oil is singing the song of clear-cut inflation, making a new cycle high up another +1.1% this morning, after an +8.9% inflation last week.
In the last three months, oil is up +43%.
If you can’t see inflation at this point, you’re not in this to make real money.
We’re going to see the entire edifice of the Old Wall chase us for the next three to four months, as the Headline CPI tracks towards our Nowcast model.
As a friendly reminder, we have the highest Headline CPI Nowcast for the US Inflation on Wall Street, which is great for those of you who remain long it.