"The annual increase in the so-called core CPI was 2.4 percent, the largest rise since September 2008"
Herein lies the problem for the reflation fantasy:
Getting back to the casino, in Social Mood terms, the 2008 meltdown was going to happen. Which investment bank gave its name as the final domino was quite irrelevant.
Having lagged since February, Financials have been going vertical since early July, due to "reflation". The biggest one month rally since...September 2008:
As any blind man can see, this time we got Wall Street too...
The term "painful" doesn't begin to describe how this unwinds. Due to obligatory denialism the truth has never been further from reality
Vast untold numbers of fucktards are betting on Trumptopian reflation, across every risk asset class: