Gold is sluggish, consumer prices are not

Alternative measures of inflation from the Cleveland and Atlanta Fed point to underlying pressures that threaten the “transitory” nature of this inflationary episode.

Key Takeaways:

  • U.S. companies have sold a record amount of junk-rated debt this year, which collateralized loan obligations (CLOs) have been scooping up at a record pace. Remind anyone of 2007 and 2008?
  • Bloomberg Intelligence says gold will “revisit its peak soon,” but has several large barriers to overcome beforehand (such as tightening of monetary policy).
  • Consumer prices in Europe are rising at the fastest pace in 13 years, catching up to the United States’ record inflation numbers.
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