That is really rather a mess as we know it rallied into the 132s. Anyway this leads me to my first two thoughts. Number one is that inflation levels will fall as we head into 2023. But care is needed with that because as we stand that simply means that prices will rise more slowly rather than actually fall. Also in Europe a lot of the trend depends on government intervention in energy prices as any halt to that will push inflation back up again. Number two is that we start it with trends for the Japanese Yen look much better. The caveat here is that the carry is against you as short-term US bonds yield about 4% more so the moves are likely to be knee-jerk and patchy like we saw earlier this week.
EU politics
Owen Jones: Momentum campaigning brought in votes – but Labour needs more
Despite corporate media’s attempt to depict the recent election in England as a defeat for Labour (it may not have been a landslide victory, but if Labour has won many seats and the Tories lost […]
Climate Crisis
Bill Mitchell: The current inflation still looks to be a transitory phenomenon
The world is reeling from one crisis to the next, most of which are not resolving themselves. It is no wonder that there is inflation. But none of these can be rectified with interest rate […]
Climate Crisis
Yale Environment 360 – Energy Hogs: Can World’s Huge Data Centers Be Made More Efficient?
Data centres eat up more than 2 percent of the world’s electricity and emit roughly as much CO2 as the airline industry. This is a fact that is conveniently being ignored. Read here
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