End week chart/s. 'Stagflation lite' or just an almighty mess brewing?
Chart 2
West Texas Immediate (white line)
10 YR yield (green line)
U.S. inflation y/y (orange line)
Separate pane: U.S. Dollar (yellow line)
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WTI is bid at 82, sitting above its support of 70
10 YR yield now at 4.1%, tracing 2022 highs.
U.S. inflation has collapsed to 3.2% but still remains elevated, probably due to the cost pressures of energy inflation still lingering.
USD bid, tracking elevated yields.
Market is still pricing liquidity tightening for 2023 and 2024.
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Chart 2.
China deflation.
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Chart 3.
Ballooning U.S. credit card debt. (Interest rates hikes and what was the effect?)
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