US inflation review, equities during stagflation, and gold weakness

Link to slide deck: https://shorturl.at/ejmuO   -

Yesterday's US July CPI report was a non-event for the market. We discuss how the more stickier part of the inflation basket remains elevated and well above the Fed's inflation target of 2%. We also discuss equity returns during stagflation, which is our new big macro call, and what it means for equity sector returns. The high short-term bond yields continue to act as headwinds for gold and wheat is struggling to find bids looking for the WASDE report for direction. Finally, we talk about a major acquisition in the US luxury industry, Alibaba's strong Q2 results, and ending on talking about next week's earnings releases. On today's podcast are Peter Garnry on equities and Ole S. Hansen on commodities.

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Intro and outro music by AShamaluevMusic