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We’ve noticed some excitement in the press around commodities recently. Terms like ‘supercycle’ are being tossed around again - the last supercycle being in the 2000’s where China’s rapid growth drove a huge and sustained increase in the price of the commodities fuelling its expansion.
by Daniel Lacalle via Mises
The Federal Reserve and European Central Bank repeat that the recent inflationary spike is “transitory.” The problem is that investors do not buy it.
Inflation is always a monetary phenomenon, and this time is not different. What central banks call transitory effects, and the impact of supply chains are not the real drivers of inflationary pressures. No one can deny certain supply shock impacts, but the correlation and extent of the increase in prices of agricultural and industrial commodities to five-year highs as well as the abrupt rise of nonreplicable goods and services to decade highs have monetary policy to blame. Injecting trillions of liquidity makes more funds chase fewer goods and the rise in the real inflation perceived by citizens is much larger than the official CPI.
Techs lead U S equity rebound after jobs report - Article bnnbloomberg.ca - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bnnbloomberg.ca Daily Mail and Mail on Sunday newspapers.
Techs Lead U.S. Equity Rebound After Jobs Report: Markets Wrap
This content was published on May 20, 2021 - 18:57
May 20, 2021 - 18:57
(Bloomberg) Technology companies led a rebound in U.S. equities on Thursday after a report showing applications for state unemployment insurance fell last week to a fresh pandemic low rekindled optimism in the economic recovery.
The Nasdaq 100 Index jumped to a two-week high, with gains in megacaps including Apple Inc., Microsoft Corp. and Tesla Corp. powering the advance. Tech stocks rose the most in the S&P 500 as 10 of the main 11 industry groups moved higher. Ford Motor Co. rose for the first time in three sessions on plans to create a joint venture to manufacture electric-vehicle batteries in the U.S. European equities rebounded from a two-week low as carmakers and financial-services firms led gains.