I’m travelling during the first half of the week so the next couple of days or so will be charts.
Chart of the Day
Breakeven inflation rates have been drifting lower of late and I’ve been seeing hedging costs come in quite a bit as well. The market appears to be transitioning into a phase where it is more concerned with a looming recession than inflation. FWIW, we have not seen this show up in loan quotes yet. Only time will tell if its a trend or a short detour but the change has been noticeable.
Source: St Louis Fed
Basis Points – A candid look at the economy, real estate, and other things sometimes related.
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