Recession is coming for the Euro
zone. Forward-looking orders -
inventories in the global
manufacturing PMIs for the Euro zone
(red) are almost back down to Oct
'22 lows. US (blue) and the global
median (black) are doing better.
This is the impact of the ongoing
energy shock... |
00:01 -
13/07/22 |
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Overall US CPI moved down to 3.0% in June, the 12th
consecutive decline in the YoY rate of inflation and the
lowest level since March 2021 |
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At least gold is no longer manipulated |
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The average price of a dozen eggs in the US has moved to
$2.22, a 54% decline from the peak back in January ($4.82). |
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The Fed Funds Rate is now over 2% higher than the US
inflation rate. The last time monetary policy was this tight
with a Fed Funds Rate above 0% was back in August 2007 |
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