“Pricing power has erupted…”
But something funny happened on the way to the headlines.
Chorus gets louder. But no one will be ready for those mortgage rates.
Even uber-doves are now looking over their shoulder.
Inflation expectations now exceed the Fed’s target.
Bank of Mexico faces stagflation or worse.
Producer Price Index rises most in six years.
Bank of Mexico caught in a vise.
What, first down-tick in Seattle?
Something is moving beneath the surface.