Stimulus came and went.... SPX & VIX looks in perfect set up... Sovereign credit risk is back!

Stimulus came and went.
Real disposable personal income per capita (the most important income measure) is now below the pre-COVID trendline.
The trendline was only ~1.8% from 2009-2020. pic.twitter.com/0DwUr7YcTU
— Eric Basmajian (@EPBResearch) October 29, 2021

The best/worst is yet to come? #inflation 👇 ht @MikaelSarwe pic.twitter.com/t3YK2aeLL3
— Michael A. Arouet (@MichaelAArouet) October 29, 2021

If by "stagflation" they mean a transitory asset melt-up at the end of the cycle giving the false impression of a strong economy prior to explosion, then indeed this is it.
Because you CAN fool fools every time. pic.twitter.com/kPa5yp9yB5
— Mac10 (@SuburbanDrone) October 29, 2021

10-year yields in the Eurozone getting in on the fun today…
Spain: +10.4 bps
Portugal: +12.1 bps
Italy: +15.4 bps
Greece: +23 bps
Sovereign credit risk is baaaaaaack https://t.co/6AsOpcxR0B
— Brian Chappatta (@BChappatta) October 29, 2021

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