Over the three months through February, services inflation has been running at roughly the same hot rate as during the peak a year ago.
A big milestone for Quantitative Tightening in the euro area.
Japanese, Canadian, and European banks started to confess. And for over a year, huge losses have hit investors, not banks.
China’s renminbi keeps losing ground, after initial progress. But the tiny “other” reserve currencies combined are taking share from the USD.
This cannot possibly happen to US markets because US markets are special?
Quantitative tightening powers along in the euro area.
Biggest home-price drops in the data going back to 2000 triggered by the biggest QT and highest rates in ECB history.
China and Brazil shed large portions of their holdings, but the top financial centers loaded up.
“If the markets don’t infer from this that it’ll be high for longer, we’ll have to use our rate instruments and hike to get where we want to go.”
A black swan of sorts no one was ready for: Negative interest rates turned positive, and all heck broke loose in the property development sector.