Here's the weekly change in the Fed balance sheet against the weekly change in the Fed's balance sheet. To my eye they are still showing correlation. The bull case is the choppy market is lining up. The bear case is the Fed has been propping up the market and it's all downhill from here.
Is stagflation temporary?
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I have been gazumped by two red-hot inflation reports in two days, even as
growth slows sharply in Australia and the US. First, in Australia,
quarterly d...
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