Link to slide deck: https://shorturl.at/hyW13   -

Equities got the best of all worlds yesterday with US June inflation figures surprising to the downside painting a perfect picture of lower inflation, higher real disposable income, and no landing in the global economy (maybe even an acceleration?) leading to a US yield curve steepening with long bond yields declining. With animal spirits already running high this new setup took US equities to new highs for the cycle and the highest close in 15 months. We also cover the moves across other asset classes as the USD fell sharply and gold and silver rallied hard. This and more on today's pod, which features Peter Garnry on equities, Ole S Hansen on commodities and John J. Hardy hosting and on FX.

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Intro and outro music by AShamaluevMusic