Bloomberg/John Authers/6-12-2022
“The US consumer price inflation data, published Friday morning, were widely regarded as terrible. That is because they were. Not only were the headline numbers awful, but the data grew worse the more you looked.”
USAGOLD note: For those wishing to take a deep dive into the ocean of inflation data, inverted rates and the global bond market, Auther offers herein a guided tour. It offers some clues too as to what might be behind today’s sell-off in the bond and gold markets. The underlying concern, in our view, is not so much that the Fed is tightening, it is that it is tightening as we appear to be on the cusp of a recession – a full broadside. fired at an already sinking ship.
