Greetings,
China: Consumer inflation continues to moderate, with the September figures coming in below market expectations.
Slower food inflation, particularly pork, has been dragging the headline CPI lower. China has made progress in rebuilding its pig population while also boosting pork imports.
Eurozone: The rebound in industrial production stalled in August.
Gains have been uneven, with Germany underperforming.
United States: Market-based inflation expectations continue to signal higher consumer inflation ahead.
Energy: Goldman expects oil prices to climb next year (much more than is currently priced into the market).
Equities: Flows in and out of QQQ (Nasdaq 100 ETF) have been massive. Some suggests that these swings are due to dealers’ enormous options exposure. QQQ, which is highly liquid, is sometimes used as a delta hedge against short portfolios of single-stock options.
Food For Thought: Common coronavirus conspiracy theories:
Edited by Daniel Moskovits
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