CHART OF THE DAY: #Inflation Accelerating Continues

02/16/21 08:27AM EST

Below is a chart and brief excerpt from today's Early Look written by Hedgeye CEO Keith McCullough.

You’d have to be completely Macro Unaware to not see #InflationAccelerating at this point.

Especially with CNN and Fox storm coverage, it will be really easy for those seeking narratives to understand the pending #Quad2 inflation numbers.

The Bond Market, as usual, gets it:

A) UST 10yr Yield was up another +4 basis points to a new Cycle High of 1.21% last week
B) UST 10yr Breakeven was up another +3 basis points to a new Cycle High of 2.23% last week
C) US High Yield OAS Spread was down another -10 basis points to a new Cycle Low of 3.23%

Within the context of the @Hedgeye TREND (i.e. 3-months or more) that means the Yield Curve has STEEPENED +39 basis points in the last 3-months alone with High Yield Spread collapsing -112 basis points.

Again, you’d have to be willfully blind and/or marketing a Long Only Gold fund to not see #InflationAccelerating now.

CHART OF THE DAY: #Inflation Accelerating Continues - Chart of the Day

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