PPI Final Demand Prices Highest In History As 2Y Treasury Yield Declines, Mortgage Rates Steady At 5.14% (All Roads Lead To … Joe And Jay)

#bubble, #inflation, Bank of England, Bank of Japan, Banking, China, ECB, Economy, Existing Home Sales, Fed, Housing, Inflation, Mortgage, Natural Gas, Oil, REITs, Retail, russia, SPX, Stocks, Treasuries, Treasury, Uncategorized, Yellen 1 Minute

Harry Truman once uttered the phrase “The buck stops here.” Joe Biden’s catchphrase should be “It’s Russia’s fault!”

Well, all roads led to Joe and Jay. Here is a chart of Producer Price Index (Final Goods) prices YoY, now the highest in history. At least, gasoline prices are declining to $4.083 (they were $2.40 when Biden was installed as President). But inflation is out of control and the 30-year mortgage rate is now 5.14% (mortgage rates were 2.82% in February 2021 just after Biden took control).

Just in case you wonder why I follow Fed Funds Futures data so closely.

Equity markets are up strongly today as markets sense a weakening in resolve by The Federal Reserve (number of expected rate hikes dropped at 10AM EST).

It appears that we have a “Powell in the headlights” problem.

Published by confoundedinterest17

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