229 sats \ 2 replies \ @shado_op 16 Nov 2023 \ parent \ on: Oil: Deflationary Shock At The Door? meta
Seems likely...Elsewhere, UK BOE (small beer compared to the Fed, I know!) already flagging rate cuts next Summer as jobs market starts to stop. Europe's ECB only got up to 4.5% and stopped there with recession indicators already flashing red. They're gonna get the slowdown they wanted and then hit reverse!!
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21 sats \ 1 reply \ @TomK OP 16 Nov 2023
I got the impression this week with europ. industry production cratering to -6.9% YoY they will be cutting far earlier.
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21 sats \ 0 replies \ @shado_op 16 Nov 2023
Jaw dropping! Also saw EU imports down 24%, exports down 9%; seems crazy but presumably values are heavily impacted by oil and gas prices? https://tradingeconomics.com/euro-area/balance-of-trade
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