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DC Lite #8

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DC Lite

DC Lite #8

5 of the day's best charts and insights

Daily Chartbook
Nov 11, 2023
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DC Lite #8

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Welcome back to DC Lite: Daily Chartbook’s free, entry-level newsletter containing 5 of the day’s best charts & insights. Upgrade to get all 30 charts.

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1. Inflation expectations. One-year inflation expectations increased to 4.4% from 4.2%, while those for five-year inflation rose to 3.2% from 3%, the highest since 2011. Expectations for gas (both short- and long-term) rose to the highest levels of the year.


2. Gas prices. "Wholesale gasoline futures imply greater than 10% decline from the current national average price of $3.39 per gallon. This will be part of the inflation narrative in the Nov & Dec CPI reports. This is why that one year ahead UMICH inflation expectations was so off."

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@joebrusuelas

3. US bond flows (II). According to BofA, flows into HY bonds were the largest since June 2020.

Michael Hartnett - BofA

4. Equity fund flows. "US equity funds saw $7.66bn inflows over the past week."

Image
BofA via @isabelnet_sa

5. Bull & Bear Indicator. BofA's Bull & Bear Indicator (1.7 from 1.4) is still giving a contrarian "buy signal" for risk assets.

Michael Hartnett - BofA
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