The shift toward a soft landing consensus that had been in vogue since the start of this year has suffered some setbacks over the past two weeks thanks to last week’s strong US jobs data and this week’s firmer-than-expected US CPI report. We pick up on this theme in some of our charts this week. 

Last Friday’s much stronger-than-expected US jobs report has set the tone for financial markets in the past few days. But it has not yet meaningfully derailed the more upbeat narrative concerning inflation and monetary policy that’s been in vogue since the start of this year. Listen now for the full analysis.