Inflation: A Double Edged Sword

Oil and gas prices are up strongly since December.  While it has been extremely beneficial to algo-driven portfolios, the inflation chickens are coming home to roost.  MoM CPI rose to 0.4%, driving the YoY rate back up to 1.9%.

While a single month pop isn’t all that alarming, there’s a very good chance that these data will temper expectations of Fed dovishness.

Meanwhile, across the pond, Mario Draghi just issued another “whatever it takes” declaration.  Could this finally be the start of the currency realignment that has been so long in the making?

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