There’s been a significant divergence between inflation expectations and oil prices recently. This suggests that either the oil rally has gotten ahead of itself or worries about global growth are a bit overdone. h/t @LaMa2anee
Global manufacturing PMI for March matched Feb reading but when India and Mexico (which were too late this month to be included) are added, it likely slipped again for the 11th month in a row—matching the longest stretch of weakness seen in 2008.
Historically, reversals in the long-term relative performance of growth and value stocks, large and small cap stocks, and U.S. and international stocks have been marked by yield curve inversions. Read more => https://www.schwab.com/resource-center/insights/content/inversions-and-reversals-leaders-and-laggards-may-be-changing-places …
US real yields (measured by 10y TIPS) have collapsed to 0.59%, suggesting way lower US GDP growth.
