Tue, Mar 1, 2022 - 10:45am

The situation in Ukraine worsens by the day and the geopolitical implications may last for years. In the intermediate, however, soaring commodity prices are absolutely destroying the Fed's current narrative that rate hikes will somehow corral inflation.

We discussed this for the past several day. For example, in last night's podcast, we pointed out that the TIP was up over $2 on Monday and that this was a sign of surging inflation expectations as well as declining real interest rates...and it's up again today....

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Key Economic Events Week of 6/27

6/27 8:30 ET Durable Goods
6/27 1:25 ET Jul22 Silver option expiry
6/27 10:00 ET Pending home sales
6/28 10:00 ET Consumer Confidence
6/28 10:00 ET Richmond Fed
6/28 12:30 ET Goon Daly
6/29 8:30 ET Q1 GDP final guess
6/29 9:00 ET Chief Goon Powell
6/29 11:30 ET Goon Mester
6/29 1:00 ET Goon Bullard
6/29 1:25 ET Jul22 Silver off board
6/30 8:30 ET PCE and Core PCE
6/30 8:30 ET Pers Inc and Cons Spend
6/30 9:45 ET Chicago PMI
7/1 9:45 ET S&P Manu PMI
7/1 10:00 ET ISM Manu PMI

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