Podcast: Yield rise accelerates. When do the consequences arrive?
Saxo Market Call
Summary: Today we look at the latest acceleration higher in US treasury yields, with significant portions of the US yield curve now inverted, which often precedes an eventual recession, if with a highly variable lag. Also, as yields rise, the yen weakens due to the Bank of Japan's policy of capping bond yields, with the BoJ out overnight intervening to keep yields from rising, helping to trigger another leg lower in the nose-diving Japanese yen. We also look at commodity volatility, key equity stories and the week ahead in earnings and more. Today's pod features Peter Garnry on equities, Ole Hansen on commodities and John J. Hardy hosting and on FX.
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Outrageous Predictions 2023: The War Economy
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A country agrees to ban all meat production by 2030In an effort to become one of the global leaders on the path to net-zero emissions, one country decides to not only put a heavy tax on meat, but to ban domestic production entirely.
UK holds UnBrexit referendumFollowing a recession and domestic pressure, the United Kingdom is thrown into political turmoil that will end with a vote to wind back Brexit.
Widespread price controls are introduced to cap official inflationHistory tells us that with the war economy comes rationing and price controls. And this time is no different, as policymakers introduce strict price controls that lead to a range of unintended consequences.
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