US CPI today; all jabs are not equal
All eyes will be on US CPI numbers today. The Fed has made it clear any rise is expected to be transitory, but NAB’s Ray Attrill says a higher surprise could see markets challenge that theory.
Day: 12 April 2021
Yellen’s global tax is a non starter
Janet Yellen wants the world to agree a universal rate of corporate tax. Has she got a cat in hell’s chance of making any headway? No way says @profSteveKeen on this week’s Debunking Economics podcast. But would it solve anything anyway?
Cyclical Thinking: Cyclical Thinking
This morning @RodneyHobson on cyclical stocks and kick starting your new ISA year. Plus Greensill and Liberty Steel. And the retail bounce back starts today.
THE TWITTERATI
GDP in Q1 1.5% down on Q4. Hardly surprising given the lockdown. The economy is still 8.7% smaller than just before the pandemic, whereas US GDP is close to where it was, thanks to massive government spending.
BBC breakfast just said economists believe today's GDP numbers will be better than expected. So are expectations higher than expectations?