Daily Charts - CPI

CPI rose 0.1% in November on a seasonally adjusted basis, after increasing 0.4% in October. The all-items index increased 7.1% for the 12 months ending November; this was the smallest 12 month increase since the period ending December 2021. We will get the Fed decision today.

We get the FOMC decision today, consensus is 50 bps, the future path of expected rate hikes is seen below. Rate hikes until May 2023.

As inflation decelerates, is this it? Or will we see a decade of inflationary bursts?

These headlines don’t bring much assurance that the battle is over (Link).

Spirit Airlines has offered as much as a 43% cumulative weighted average pay raise to its pilots over two years, according to a union memo seen by Reuters.

The deal is yet more evidence of the bargaining power pilots are enjoying as carriers staff up to meet booming travel demand. It comes a week after Delta Air Lines offered a 34% cumulative pay increase to its pilots over three years in a new contract.

The uncertainty around inflation brings much uncertainty around equity market forecasts. 20% of survey respondents think the S&P 500 will be down 10% next year, 17% think it will be up 10%.

Fund managers think that government bonds will be the top performing asset class in 2023… yikes.

And fund managers are now overweight bonds for the first time since 2009.

These are the important suppliers of critical minerals for the world. Canada is well represented but China is the most important.

We need to tread carefully as we observe what the impact of German reliance on foreign gas means for their economy (Link). It is expected that industry will leave.

A few of the oil ETFs have seen large inflows in the past week. AUM of this wisdom tree ETF tripled.

China is pulling tricks out of Donald Trump’s playbook. If you don’t test, there won’t be cases.

The Canadian yield curve is severely inverted, the most since 1990. A recession indicator,

Over a long enough time horizon, fiat loses its value against gold.

Visualizing how big the US markets are relative to the rest of the world.