Even the China's numbers starting to show current lockdown effects https://t.co/P2dIRIjpKS
— Lasse Willivuori (@willivuori) May 9, 2022
Spreads have widened considerably, and this will get worse once the ECB ends QE and starts hiking interest rates. Italian long-term bond yields are now 2 percentage points higher than for 🇩🇪 . This fragility will again put €zone policymakers to the test.
Chart @RobinBrooksIIF pic.twitter.com/I1RqGyWNkv
— Philipp Heimberger (@heimbergecon) May 9, 2022
*PBOC REITERATES THAT IT WILL NOT FLOOD ECONOMY WITH STIMULUS
Bloomberg
— Daniel Lacalle (@dlacalle_IA) May 9, 2022
We're in the middle of a disorderly rise in long-term US real yields, which is weighing on all EM, including Brazil's Real. The more disorderly this gets, the shorter it will last, because the Fed will be forced to backtrack. So our Brazilian Real $/BRL fair value stays at 4.50. pic.twitter.com/4yMaLwkw8S
— Robin Brooks (@RobinBrooksIIF) May 9, 2022
We are looking at a nightmare in terms of global diesel shortage that will shock people starting June.
Diesel inventory on the east coast is 18 million (About 3 days demand) as of today, we will run down to sub 10 million. 🚨
This is WAY below historic inventory levels pic.twitter.com/QquIeio8VF
— Wall Street Silver (@WallStreetSilv) May 8, 2022
Global recession risk is rising rapidly because of three factors: (i) recession in Europe and mounting stress in periphery bond markets; (ii) China's Omicron lockdowns and RMB devaluation; (iii) a disorderly rise in long-term US real yields (blue) that is dragging down all EM… pic.twitter.com/01rtkrMIgN
— Robin Brooks (@RobinBrooksIIF) May 9, 2022