Raging inflation started mid-2021, but the ECB called it temporary. In June, it ranged from 6% to 22%!
US natural gas prices tripled from the 10-year average, now linked to global prices, with 7 LNG export terminals now operating and 15 more approved.
The ECB created the greatest corporate bond bubble ever. Now junk bonds get crushed, yields already doubled, set to double again, and again, cleansing out the zombies.
Double-digit inflation has already been raging in several European countries.
Biggest buyers of US LNG: South Korea, China, Japan, Brazil. But Mexico bought more US natural gas than all four combined.
Food for thought in light of the biggest stock market bubble in the US ever.
The ECB is still recklessly delusional.
ECB second giant to taper. Bank of Japan already ended QE. Bank of Canada shed 15% of assets. UK, Australia are tapering. New Zealand quit cold turkey
Nothing Goes to Heck in a Straight line, not even the dollar’s hegemony.
The sector was already hit hard by Brexit, then by lockdowns, and now by working from home as companies plan to cut floor space.