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The Inflation Story is Alive and Well in Five Charts

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In light of Fed Chairman Powell’s congressional testimony, we thought it relevant to revisit the inflation story and provide yet more evidence that the trend in inflation continues to be higher. For now, the Fed has assessed the risks to inflation and growth as balanced in both directions, which is Fed-speak for a policy that […]

Fed Tightening Doesn’t Fully Explain EM Financial Market Weakness

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This week financial market participants were delivered a cogent explanation for the weakness in EM stocks, bonds and currencies by India’s central bank governor, Mr. Urjit Patel. In Mr. Patel’s opinion, the US Federal Reserve’s tightening of monetary policy (most specifically balance sheet shrinkage, or the allowance by the Fed to let maturing bonds roll […]

Sitting Here in Limbo

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In observing the equity markets over the last several weeks, we cannot help but be reminded of the Jimmy Cliff song, “Sitting Here in Limbo”, which was famously covered by Jerry Garcia. The first two lines go like this: “Sitting here in limbo, like a bird without a song Sitting here in limbo, but I […]