Inflation worldwide

Here’s a crystal ball look at next year

Escalating weekend violence in the Middle East sent the price of crude oil north of $119 last night prior to news that G7 officials are looking to jointly coordinate supply injections from their domestic reserve stockpiles.

For over a month, I’ve been concerned that markets have been pricing in a pair of conflicting economic scenarios. We first laid out the paradox in early December: equity investors say that they are hopeful for a soft landing for the economy yet seem to relish signals of more overt weakness.