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.
National Politics
Ben Wray: Care Homes a Privatisation Story
The surprising number of coronavirus deaths in Scottish care homes conceals a greater scandal about the hollowing out of the the UK National Health Service. The 1996 privatisation of care homes was described by Allyson […]
EU politics
Deanna Dadusc, Maurice Stierl: Call it what it is, a massacre at Europe’s doorstep
Today, the Mediterranean Sea is hiding not only hundreds of bodies but also the violence of European authorities who chose to let them drown. Read here
Economics
William Hartung – US dominates global arms trade as exports to Europe surge
A new Stockholm International Peace Research Institute report says the United States continues as the world’s biggest weapons supplier. Read HERE
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