Wages, fuel, supply chains and a not-so-transitory inflation number
Thursday 14th October 2021US CPI numbers were a little higher than anticipated. NAB’s David de Garis says we did see some support for bond yields, but markets slipped back when it was realised the core inflation number was pretty line-ball with expectations. As we’re seeing around the world, prices are being influenced by fuel, supply chains and wages. This morning’s FOMC minutes contained nothing in the way of surprises – it simply cemented-in the belief that the Fed will start tapering this year through to mid- 2022, but the timing of a rate rise seems less certain. UK GDP was also close to…
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