Recovery is slowing sharply… Central banks are hiking rates

Eurozone October Composite PMI flash estimate at 54.3, at 54.2, which is a six-month low. The activity index fell in October

Recovery is slowing sharply.

Cap Economics pic.twitter.com/O9a0llWFZn

— Daniel Lacalle (@dlacalle_IA) November 4, 2021

For those of us who forecast back in 2020 that Covid was a #stagflation supply shock, this is the clearest hard evidence to date that we were right, and the de-disinflationists (eg cenbanks) were wrong, very wrong. t.co/44e4ybu8DC

— John Butler (@ButlerGoldRevo) November 4, 2021

The S&P 500 is on pace for its third straight year of 15%+ price gains. Would be just the second time that's happened since 1928. t.co/H4p1RcpfIn pic.twitter.com/tChJvdVUMq

— Bespoke (@bespokeinvest) November 4, 2021

"Permanently High Plateau" t.co/XfweoyFmc0

— Make Black Swans Great Again (@RetirementRight) November 4, 2021

🇨🇳 #China’s Developer Bond Slump Deepens as Selling Spreads Onshore – Bloomberg
*Link: t.co/96htBV2IiH pic.twitter.com/uekVM02Qhv

— Christophe Barraud🛢 (@C_Barraud) November 4, 2021

Global Central Bank Update:
-Czech Republic hikes rates for the 4th time this year, 125 bps increase to 2.75%.

The Great Normalization continues…t.co/Qik2TqFFU5 pic.twitter.com/q3i5tlLbnA

— Charlie Bilello (@charliebilello) November 5, 2021

Legendary investor Jeremy Grantham says US stocks are in a ‘magnificent bubble’ even crazier than in 1929 — here are 3 of his safe haven selections (yahoo.com)

Central bankers have not considered how inflationary ESG initiatives are. ESG is not transitory, but rather persistent and growing. Stakeholder capitalism will drive much needed increases in wages, but also higher energy costs, among other inflationary factors.

— Bill Ackman (@BillAckman) November 4, 2021