What macro is asking right now

“DXY going lower, metals bidding, and cross-border flows feeding the credit cycle melt-up.”

“That is the setup for negative real rates in the next 12 months.”

“The livestream for tomorrow will cover how we are approaching a cliff in the global carry trade.”

“Trimmed mean CPI is at 2.7 percent, headline CPI at 3.3 percent, and core CPI at 2.6 percent.”

“Kevin Warsh's shift toward data-focused arguments occurred while he was actively campaigning for the Fed chair position.”

“Officials at the Federal Reserve were split between no cuts this year and one or more rate increases as they braced for higher inflation, according to a new set of projections.”

“The 10-year Treasury yield is around 4.5% and the 30-year Treasury yield has risen above 5%, contrary to the typical decline expected during periods of weakening growth.”

“Inflation remains around 3.8%, nearly double the Federal Reserve's 2% target, and has become embedded in housing, insurance, healthcare, wages, food, and government spending.”

“The more likely path I think puts gold eventually on a (rocky and volatile) tracjectory to eventually get to $10,000.”

“In March 2020, private demand for Treasuries suddenly dried up, sending short-term funding costs surging and forcing the Federal Reserve to buy bonds.”

“Mr Warsh has declared his intention to reduce the Fed's holdings of Treasuries.”

“In March 2020, private demand for Treasuries suddenly dried up, sending short-term funding costs surging and forcing the Federal Reserve to buy bonds.”

“One analyst thinks Kevin Warsh is Volcker 2.0 and everything just changed.”

“Johnson came away from this week's Fed meeting with a conclusion that would have sounded almost absurd just a few months ago: the Fed may finally be breaking with the post-2008 playbook.”