Real Interest Rates Top
Risk assets are drive currently by real interest rates (TIPS). The correlation and cointegration between the Nasdaq and TIPs point to risk assets depending purely on nominal interest rates, and the Fed’s hawkish rhetoric. With any hint of a chance in stance markets will rally in the short run. Inflation expectations depend currently on commodities […]
Inflation’s turning point
Macro Insights: “Inflation’s turning point” European Inflation is set to turn according to the latest publication of the European Commission’s survey data. Consumer expectations for inflation suggest that inflation has finally peaked and that pricing pressures in Europe are turning. Therefore, the latest hawkish rhetoric by central bankers should start to ease from here on. […]