So glad we've almost made it
So sad they had to fade it
Everybondy wants to rule the world
--Tears for Fears
David Rosenberg of Gluskin Sheff thinks that inflation expectations may be pretty well priced in by the markets. He offers some interesting evidence to support his thesis.
As we have noted in class, when consensus builds on a subject that has helped to trend markets, then a trend reversal may be pending...
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Today's monetary policies no longer consider limiting money and credit supply expansion a priority. This, in turn, is increasingly undermining the very foundation that can be held responsible for declining consumer price inflation in the last decades — thereby actually eroding the rationale for putting trust in central banks' low inflation promise.
~Thorsten Polleit
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