from Clusterstock by John Mauldin
One
of the more frequent questions I am asked in meetings or after a speech
is whether I think we will have inflation or deflation. My ready answer
is, "Yes." Then I stop, which I must admit is rather fun, as the person
who asked tries to digest the answer. And while my answer is flippant,
it's also the truth, as I do expect both outcomes. So the follow-up
question (after the obligatory chuckle from the rest of the group) is
for a few more specifics. And the answer is that I expect we will first
see deflation and then inflation, but the key is the timing. Today we
will examine that question in more detail, as we look at how interest
rates could actually be negative (!!!) this week in German and Swiss
bonds and why the US ten-year has dipped below 1.5%. The very poor May
employment number needs some analysis, too, and we'll check the
prospects of a synchronized global slowdown. Rarely have I come to a
Friday with so much data that simply begs for a more thorough look, but
we will try to hit at least the most important topics.
Posts
No comments:
Post a Comment