Gold is showing the way
Saxo Market Call
Summary: Today we look at yesterday's painfully hot US CPI inflation readings and the reactions across markets, as traders rushed to price in a faster pace of Fed lift-off next year, generally sold US Treasuries and risky assets and snapped up the US dollar. But the most important move yesterday was in gold, which ripped through major resistance and was up across the board as real yields dropped further on the US inflation data - making the most interesting macro statement of the moment. Also, we look at key equity stories for the day ahead, run down the US, EU and UK sovereign yields and more on today's pod, which features Peter Garnry on equities, Althea Spinozzi on fixed income and John J. Hardy hosting and on FX.
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