Is the narrative on the economy and interest rates about to change?

Link to slide deck: https://bit.ly/3pyvWBh   -

Today we question whether the treasury market's sharp reaction to yesterday's strong US weekly initial jobless claims and jump in yields reveals that the market is very poorly prepared for a change of the narrative: one that suggests the economy remains strong rather than heading toward a soft landing. All eyes on the long end of the US yield curve! If financial conditions are set to tighten and next week's data proves strong, the US dollar could be set for a significant further surge higher and volatility could pick up from the quite low levels of late. We also discuss ASML's drop, Nike's results, equity market valuations, grains and gold and more. Today's pod features Peter Garnry on equities, Althea Spinozzi on fixed income, Ole Hansen on commodities and John J. Hardy hosting and on FX.

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Intro and outro music by AShamaluevMusic