Inflation and labor market data was stronger than anticipated in reports last week.
The issue still driving financial markets is inflation. There are those investors who believe inflation is well above expectations of just three months ago, but it will decline during the first half of next year. There are those forecasters who believe inflation will remain high throughout next year and even in 2023. The issue remains as the October inflation data released last week was well above prior months and everyone’s forecast. The impact is being reflected in the slope in the yield curve.
PROBANK AUSTIN ADVISOR - NOVEMBER 15, 2021