Saturday Hark Back - 11 Feb 2023
Capturing the themes of the week when there’s time to digest them
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With US CPI on the horizon it’s all about disinflation this week
So after mentioning “disinflation” no less than fifteen times in his 45 minute February FOMC press conference, Chair Powell continued the theme on Tuesday at the Economic Club of Washington. He stated that “the disinflationary process, the process of getting inflation down, has begun, and it has begun in the goods sector”.
We investigate below what this actually means and what are some of the potential implications for the markets.
Only other theme in town - The Super Bowl
Super Bowl 57 is upon us as the young guns of Malone and Hurts go toe to toe in what, according to the spread, should be a close call as the Champions of 2020, the Kansas City Chiefs, take on the 2018 Champions, the Philadelphia Eagles.
Well over 100m people are expected to tune in on what is the biggest day of food consumption, outwith Thanksgiving, in the US. Chicken wings are the most popular snack of choice, with a small matter of 1.4bn wings being consumed on the day washed down by $1.3bn worth of beer!
It’ll be the first Super Bowl with brothers (the Kelces) on opposing teams, hopefully, Rihanna won’t need her umbrella during her halftime show, whilst TV adverts cost a cool $7m for a 30-second slot.
The Eagles will play in their home colours of green, whilst the Chiefs will play in the traditional away colours of white. As an aside, white has won 65% of the Super Bowls to date.
Anyway, enough pointless trivia I’ll leave you with some predictions and a preview podcast.
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The Zero Hedge article is an excellent read.....