I hope everyone is having a great weekend and enjoying the beautiful weather.
Last week’s inflation data was highly concerning; both for the present and what it implies for the future. The Fed is very far behind the curve and if they do not get serious soon, this ridiculous 1970s comparison may not be so far fetched.
We will review the data as well as the market action to see what the right positioning stance is today. In terms of data for the week, there is pending home sales Tuesday, housing starts and Philly Fed Thursday and UMICH on Friday.
If you have not had a chance to read my latest asset class outlook, check it out here: Commodity Outlook: Scarcity.
Quite the week, and I suspect we shall even more fun ahead. Let’s dig in.