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Inflation is no longer in stealth mode
- IHS Markit index shows UK households pessimistic about finances for 2017-208
- UK household finances remain under intense pressure from rising living costs
- 58 percent of respondents expected higher interest rates in 12 months time
- Inflation in the United Kingdom currently at near four-year high
- Prices up prices by 2.9pc year-on-year, biggest annual increase since June 2013
- In May consumer spending in the UK fell for the first time in almost four years
By a continuing process of inflation, governments can confiscate, secretly and unobserved, an important part of the wealth of their citizens. John Maynard Keynes, The Economic Consequences of the Peace (1919)
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Citi Warns 'Inversion' Looms As Treasury Yield Curve Slumps To 8-Month Lows
Since The Fed began its 'tightening cycle' in December 2015, the Treasury yield curve (2s10s) has flattened dramatically, tumbling back today towards cycle lows (and well below Trump-election-hope lows). What is perhaps more worrisome is the historical trend strongly suggests this trend is far from over and an inverted yield curve looms.
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The US Jobs Market Is Much Worse Than The Official Data Suggest: The Full Story
Following Friday's disappointing payrolls report, yesterday we showed another even more troubling fact about the state of the US labor market: since 2008, over 93% of the total 6.7 million net jobs "created" in the past decade, have been statistical, existing simply inside an excel model somewhere in the US Department of Labor, as a result of the BLS' favorite fudge factor, the Birth/Death adjustment.
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