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.
Economics
DeStatis – Germany: Exports to non-EU countries in April 2023: expected decrease of 5.7% on March 2023
More bad news for Germany’s mercantilist economy Exports to third countries (calendar and seasonally adjusted exports of goods), April 2023 56.5 billion euros -5.7% on the previous month -2.0% on the same month a year […]
Fake News
James Ball: It’s time to ditch the term ‘fake news’
It is amazing how quickly terms such as populism and fake news are suddenly omnipresent, yet undefinable because they are use in contradictory connotations: Trump and Sanders are labelled populists, but that is probably the […]
Deregulation
Ann Pettifor: The Sudden Paralysis of the System
Messing with a Marvellously Intricate and Fragile Global Financial System Read Here With acknowledgement to the artist, Daniel Agdag
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