Markets & Crypto
The Kobeissi Letter
Public Telegram feed monitored for macro-market headlines and commentary.
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World central banks are increasingly moving toward tightening:
Global central banks have cut rates 31 times year-to-date, outpacing 12 hikes conducted over the same period.
Over the last 3 months, there were just ~3 more rate cuts than hikes globally, the smallest gap since 2023.
Developed markets have now implemented 3 more rate hikes than cuts over this period.
At the same time, emerging markets have still seen 6 more rate cuts than hikes.
To put this into perspective, world central banks hiked rates ~90 times more than they cut in a single 3-month period during the peak of the 2022 inflation crisis.
Resurgent inflation points to more rate hikes ahead.
(@TheKobeissiLetter)