Going back to 1881, U.S. market's valuation remains historically-stretched per @RobertJShiller CAPE metric … January read of 39.6 closing in on December 1999 peak of 44.2
@biancoresearch pic.twitter.com/A2YIXaglxr— Liz Ann Sonders (@LizAnnSonders) February 7, 2022
Continued normalization in earnings for leisure/hospitality sector (nonsupervisory workers) as they come back into workforce … 3m annualized growth rate now < 5% (well off peak of 25%) pic.twitter.com/pqjgOD3jwj
— Liz Ann Sonders (@LizAnnSonders) February 7, 2022
Every central banker in the world: "#inflation will soon subside as the #supplychaincrisis eases."
People who might actually KNOW something about it: "Wanna bet?"#shipping #freight#logistics pic.twitter.com/IWnZRrYMVQ
— Cantillon Consulting (@CantillonCH) February 7, 2022
Inflation in real time. pic.twitter.com/KHQHfnVt73
— Wall Street Silver (@WallStreetSilv) February 6, 2022
World Food Price Index.
"Transitory"
via Bloomberg pic.twitter.com/sAjPFQSiS2
— Daniel Lacalle (@dlacalle_IA) February 6, 2022
Goodbye Easy Money as Central Banks Speed Up Rate Hikes…
The end of easy money is upon us.
Two years after the pandemic sent the global economy into a deep but short recession, central bankers are withdrawing their emergency support — and they’re moving faster than they or most investors had foreseen.
The U.S. Federal Reserve is preparing to raise interest rates in March, and last Friday’s jobs report fueled speculation it may need to move aggressively. The Bank of England just delivered back-to-back hikes, and some of its officials wanted to act even more forcefully. The Bank of Canada is set for liftoff next month. Even the European Central Bank may get in on the action later this year.
Rates are rising because policy makers judge that the global inflation shock now poses a bigger threat than further damage to growth from Covid-19. Some say it took them far too long to reach that conclusion. Others worry that the hawkish turn could slow recoveries without offering much relief from high prices, given that some of the surge is related to supply problems beyond the reach of monetary policy.
There are a couple of outliers among the biggest economies.
Adults Back in Charge of Stock Market?
They Made Millions on Luna, Solana, Polygon: Crypto Boom Beyond Bitcoin…