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Michael Hartnett at BofA kicks us off.
Zeitgeist: “End of inflation, end of war, end ofUS$ bull…buy commodities & EM.”
The Price is Right: “Mission Accomplished” June CPI (headline 2% to 9% to 3%round trip is now complete)…bond bears routed as 10-yearUST yield heads from 4% to3.5%, real yields back away from 2%, risk assets en fuego as Goldlocks schools us bears.
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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific's leading geo-politics and economics portal.
He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.
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