Developed countries used to combat high inflation and after winning, the dearth of price rises become a worry and mystery. We discuss inflation and the stock market before preview the next big events.
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- Absent inflation: Long gone are the days of rising prices and the tough battle to curb them. With a low unemployment rate, we should have seen price pressures. Are the models broken? We discuss potential reasons: globalization, unionization, demographic changes, technological disruption, and many more potential reasons. What can change it?
- The absent crash: “The most hated rally” is going on and on. Is it justified? It depends on where you look. We discuss politics, the Fed, corporate profits and lots more.
- Preview: A relatively light calendar leads us to the Jackson Hole Symposium. Will central bankers skip the important topics? Draghi is expected to discuss tapering while Yellen’s speech will be eyed for any hints about a hike. Also, watch out for durable goods orders, home sales and political developments of course.
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