DXY to the moon:
AUD through the floor:
CNY the same:
Commods are hanging on:
And miners (NYSE:RIO):
EM stocks (NYSE:EEM) have gone nowhere:
US junk (NYSE:HYG) broke:
Yields broke out, curve mashed:
Stocks fell:
US inflation is still sticky:
The Fed has months ahead of further tightening at 50bps per hit. Remember that rates do not usually peak until they are above inflation. That crossover point is going to be somewhere in the mid-5% range.
The world needs a stronger DXY to break commods, finish off stocks and crush EMs. It is my that it is about to get it.
AUD falling anvil dead ahead.
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