Link to slide deck:   https://bit.ly/3XhX43Y  -

Today we note that, despite the first negative day in some time in the US market yesterday, pockets of pronounced strength were found in many speculative names. Our Global Risk Indicator also shows the scale of improvement in financial conditions of late and suggests that the speculative energy may have room to extend. In FX, we note the interesting market reception of another new cycle high in UK core CPI this morning, as the market wonders whether the Bailey Bank of England has the right stuff to deliver as much tightening as is currently priced into the forward curve. We also talk the wildly strong US housing starts number yesterday, earnings to watch today and more.  Today's pod features Peter Garnry on equities and John J. Hardy hosting and on FX.

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Intro and outro music by AShamaluevMusic