The Bank of England faces significant potential losses on its balance sheet as it unwinds quantitative easing. However, higher interest rates are not the source of these potential losses. Failure…
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The y/y for the consumption deflator in the US eased from 6.61% to 6.27% in April. The gap between headline CPI and PCE price index inflation has now widened to…
Severe price pressures have buffeted the global economy over the past year and a half. But there are now emerging pockets of disinflation (beyond used cars & trucks). Lumber futures…
Homebuilder sentiment slid at the start of May according to the NAHB, marking the fifth straight monthly decline. Housing remains a key barometer of the broader economy. It is no…
The value of home sales in China slumped 48.6% y/y in April. Rising unemployment combined with falling house prices and sales could auger a fresh wave of defaults across the…
The authorities in China are intensifying lockdowns in Shanghai and Beijing in their latest attempts to eradicate Covid. Xi Jinping doubled down on the zero-Covid strategy last week. But the…
