Jan 17, 2023Liked by Callum Thomas

“Unflation” is a better term than “disinflation.”

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Aug 3, 2023Liked by Callum Thomas

China's (self) injuries just needs some first aid. I'm betting bandages are on the way.

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In case you missed it, since some have asked, here is the same article from last year: https://www.topdowncharts.com/post/the-12-charts-to-watch-in-2022

And the Q4 update from late last year: https://topdowncharts.substack.com/p/the-12-charts-to-watch-in-2022-q4

Curiously the number of charts in that edition experienced inflation from 10 to 12, and then deflation this year from 12 to 10 !!!! (an unintentional nod to the macro outlooks!)

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If 10yr yields move below 2% and the market is pricing in FED funds above 4%, how long can the economy sustain such a deep inversion of the yield curve?

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