"As I Was Going To St Ives"... Why Today's G7 Meeting Is Important

100
21
Favorite

"As I Was Going To St Ives"... Why Today's G7 Meeting Is Important

zerohedge2021-06-11

As I was going to St Ives... “As I was going to St. Ives, I met a man with(G) 7 wives; Each wife had(G) 7 sacks; Each sack had(G) 7 cats; Each cat had(G) 7 kits; Kits, cats, sacks, and wives, How...

Source Link

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

100

Report

Comment（21）

kukuniao
·2021-06-12
It's always important isn't it
Reply
Like
Report
ckhing
·2021-06-12
Please good news
Reply
Like
Report
Darwinpro
·2021-06-12
Cool
Reply
Like
Report
A1if5
·2021-06-12
Z
Reply
Like
Report
QueenLT
·2021-06-12
Hi
Reply
1
Report
MemeTrader
·2021-06-12
Great! Please like and comment. Thanks!
Reply
1
Report
Fold Replies
- QueenLT:
  hi
  2021-06-12
  Reply
  Report
ShawnKoh1
·2021-06-12
Please like and comment
Reply
2
Report
Fold Replies
- QueenLT:
  hi
  2021-06-12
  Reply
  Report
Jcbduck
·2021-06-11
Good
Reply
4
Report
Fold Replies
- WMIING:
  Ok
  2021-06-12
  Reply
  Report
- Horngryz:
  ok
  2021-06-12
  Reply
  Report
WDnemo
·2021-06-11
Just a group of wealthy nation trying to steer the world direction to their advantage
Reply
3
Report
LW100
·2021-06-11
Like!
Reply
2
Report
Fold Replies
- LW100:
  Test
  2021-06-12
  Reply
  Report
Hihihihi
·2021-06-11
Comment
Reply
6
Report
Fold Replies
- Horngryz:
  good
  2021-06-12
  Reply
  Report
- HHTan:
  Comment. Please response and comment. thanks
  2021-06-11
  Reply
  Report
- Jcbduck:
  Ok
  2021-06-11
  Reply
  Report
View more 1 comments
dorris
·2021-06-11
Latest
Reply
7
Report
Fold Replies
- J5385:
  like
  2021-06-11
  Reply
  Report
Khoogl
·2021-06-11
Like
Reply
7
Report
Fold Replies
- thuiminnReplying toHSR:
  like and comment
  2021-06-11
  Reply
  Report
- HSR:
  Done, plS comment back pls ??
  2021-06-11
  Reply
  Report
- pshiqi:
  like n comment back pls
  2021-06-11
  Reply
  Report
CheeMang
·2021-06-11
Comment and like
Reply
6
Report
Fold Replies
- thuiminn:
  like and comment
  2021-06-11
  Reply
  Report
- dorris:
  latest
  2021-06-11
  Reply
  Report
- potatocat:
  :)
  2021-06-11
  Reply
  Report
CheeMang
·2021-06-11
Comment pls
Reply
2
Report
WtfLime
·2021-06-11
LIKE AND COMMENT
Reply
2
Report
Fold Replies
- ckww:
  Ok
  2021-06-11
  Reply
  Report
AidenTwc
·2021-06-11
Wahhhhh
Reply
1
Report
Fold Replies
- huilong:
  k
  2021-06-11
  Reply
  Report
- CheeMang:
  K
  2021-06-11
  Reply
  Report
Ahleepapa
·2021-06-11
Nth is more inpt than my bull run!
Reply
3
Report
Fold Replies
- WtfLime:
  HAHAHHAAHAH
  2021-06-11
  Reply
  Report
BullishKing
·2021-06-11
Great
Reply
2
Report
Fold Replies
- Ahleepapa:
  Pls comment back thanks
  2021-06-11
  Reply
  Report
felixgoh
·2021-06-11
Be nice
Reply
3
Report
Fold Replies
- Futou:
  Like
  2021-06-11
  Reply
  Report

Most Discussed

7x24

All

Terms and Conditions·Privacy Policy

Company: TTMF Limited. Tech supported by Xiangshang Yixin.

Email：uservice@ttm.financial

{"i18n":{"language":"en_US"},"data":{"share":"https://ttm.financial/m/news/1145537442?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2021-06-11 21:57","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"1145537442","market":"us","top_or_hot":-1,"title":"\"As I Was Going To St Ives\"... Why Today's G7 Meeting Is Important","media":"zerohedge","content":"<div>\nAs I was going to St Ives...\n\n“As I was going to St. Ives, I met a man with(G)\n 7 wives; Each wife had(G)\n 7 sacks; Each sack had(G)\n 7 cats; Each cat had(G)\n 7 kits; Kits, cats, sacks, and wives, How...\n\n<a href=\"https://www.zerohedge.com/markets/i-was-going-st-ives-why-todays-g7-meeting-important?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29\">Source Link</a>\n\n</div>\n","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>\"As I Was Going To St Ives\"... Why Today's G7 Meeting Is Important</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n\"As I Was Going To St Ives\"... Why Today's G7 Meeting Is Important\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-11 21:57 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.zerohedge.com/markets/i-was-going-st-ives-why-todays-g7-meeting-important?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29>zerohedge</a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\nAs I was going to St Ives...\n\n“As I was going to St. Ives, I met a man with(G)\n 7 wives; Each wife had(G)\n 7 sacks; Each sack had(G)\n 7 cats; Each cat had(G)\n 7 kits; Kits, cats, sacks, and wives, How...\n\n<a href=\"https://www.zerohedge.com/markets/i-was-going-st-ives-why-todays-g7-meeting-important?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":".IXIC","symbol_name":"NASDAQ Composite","start_time":0,"source_url":"https://www.zerohedge.com/markets/i-was-going-st-ives-why-todays-g7-meeting-important?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29","article_id":"1145537442","we_media_id":null,"thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1145537442","pubTimestamp":1623419872,"columns":[],"sourceInfo":null,"weMediaInfo":null,"summary":"As I was going to St Ives...\n\n“As I was going to St. Ives, I met a man with(G)\n 7 wives; Each wife h","collect":0,"end_time":0,"defaultTopTitle":"zerohedge.com","property":[],"viewcount":null,"language":"en","relate_stocks":{".IXIC":"NASDAQ Composite",".DJI":"道琼斯",".SPX":"S&P 500 Index","SPY":"标普500ETF"},"translate_title":"“我要去圣艾夫斯”...为什么今天的G7会议很重要","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{".DJI":0.9,".IXIC":0.9,".SPX":0.9,"SPY":0.9},"content_text":"As I was going to St Ives...\n\n“As I was going to St. Ives, I met a man with(G)\n 7 wives; Each wife had(G)\n 7 sacks; Each sack had(G)\n 7 cats; Each cat had(G)\n 7 kits; Kits, cats, sacks, and wives, How many were there going to St. Ives?”\n\nThis old English riddle is appropriate today givenG7 leaders’ (and wives, sacks, cats, and kits) are allinSt Ives, Cornwall – and traffic is murder as a result. Don’t even think about trying to get a cream tea there.\nThe multiplicative element of the riddle also seems appropriate given inflation keeps running hot – and the market keeps saying not.Yesterday’s US CPI report surprised to the upside, with headline inflation up 0.6% m/m and 5.0% y/y, while even core CPI was up 0.7% m/m and 3.8% y/y. “Sic transit(ory) in incremento pretiorum mundi,”said the US Treasury market, with10-year yields spiking 5bp to 1.53% - and then collapsing back to 1.43% againregardless. The riddle contained in *that* is perhaps answered by short-covering, and the market seeing this surge as still a re-opening related supply shock (used car prices, etc., etc.) with no wage response looming, and so it will end up as destructive of demand in the end. Moreover, the surge in US demand weareclearly seeing, until current stimulus runs out in a few months, and the ever-present monthly Fed QE largesse, is seeing exporters to the US make serious hay, and their FX reserve levels surge in tandem. Those dollars have to go somewhere other than meme-stonks and rude cryptos: welcome to the Treasury market!\nThat said, there might be more stimulus ahead than thought. Swing senator Manchin, and nine others, have proposed a newcompromise infrastructure fiscal package of $1.0 trillion over 5 years, with no tax hikes. It’s not the $4 trillion first floated over 10 years, but it’s hardly chopped liver at $200bn a year with no off-setting tax hikes – that is around 1% of US GDP alone. Might this move the Treasury needle, or will it be soothed at the climb-down and presumption that even if this happens, none of it will be Made in America, as promised?\nMeanwhile, back to the G7 and entourage. This is an important meeting:there is the 15% tax deal, and opt-outs; a global vaccine plan; the background chill over Northern Ireland and chilled meats; and some commentators see this as US President Biden’s last chance to get Canada and the EU to agree to side with him in what he calls ‘a struggle between democracies and autocracies’, which has the smell of Potsdam and Yalta to it. So, weighty matters.\nThen again, this G7 are no FDR, Churchill, and Stalin. We have Biden, with his Cold War vision; Suga of Japan, ramping up defence spending “dramatically” with a more muscular foreign policy; Moon of South Korea, traditionally more cautious, but edging closer to the US in some key areas; Morrison of Australia, giving Cold War/Churchillian speeches; and Modi of India, via Zoom, clearly leaning US, but obviously focused on Covid-19. But it also means renowned geostrategist Trudeau of Canada; “Sausage wars” Johnson of the UK; just-slapped-in-the-face Macron of France, where a recent poll shows more than half of voters think their political system is “broken”; Draghi of Italy, seen by markets as his country’s last hope, so with his hands already full; and Merkel of obstinately non-geopolitical Germany,today celebrating a test-run of gas through the Nord Stream 2 gas pipeline, and continuing to back doing as much business as possible with China. As such, we should temper expectations:not so much Potsdam and storms in a tea pot?\nYet the suggestion is that if the EU cannot muster enthusiasm to back the US and ‘democracies vs. autocracies’ now, they never will; and while US-EU relations will not then fall to the floor, as under the Trump administration, there will also be a low effective ceiling going forwards – which will matter hugely on many fronts over time. There are many ways to define this Atlantic drift, but perhaps the simplest way is that the US thinks ‘freedom isn’t free’, while the EU clings to the view that freedom is both free and free-trade. Notably, however,the EU has joined the US in calling on China to allow “complete access” for an independent investigation into the origins of Covid-19, which backs it on one particular --and contentious-- front. So we shall have to watch the G7 for further developments.\nMeanwhile, if anyone is thinking that curtains are coming down from only one side of a potential East-West divide,China yesterday passed a new law to push back against foreign sanctions. Legal countermeasures now available to it include \"refusal to issue visas, denial of entry, deportation... and sealing, seizing, andfreezing property of individuals or businesses that adhere to foreign sanctions against Chinese businesses or officials.\" In short, a Western bank or firmmustcomply with US sanctions or lose access to the US market – but now that bank or firm operating in China, and/or its employees, can be legally punished for doing so. This can even apply to family members, and legal experts say perhaps also to think-tanks or journalists, or those on social media, who directly or indirectly advocate for sanctions.\nWe may not see the trigger pulled on that law immediately, but it shows just how much potential decoupling is being stored up ahead.And such decoupling is both very inflationary in some places, who will see supply shift back to them before they are ready, and very deflationary in others, who will see excess supply and no demand.The markets and central banks don’t want to see this geopolitical truth any more than they do the risk that inflation might be anything less than “transitory”.\nWhich brings me back to the opening riddle.\nHow many people were coming from St Ives? It looks like it takes math to work out: and do you include all the wives, and animals, and the man? However, the most common answer is: one -only the narrator was GOING to St Ives, and the others were coming FROM it.Sometimes the simplest answer is right there in front of our faces - but we like to try and hide it with math, cod-philosophy, and “because markets”.\nHappy Friday!","kind":"news","is_publish_news":true,"is_publish_highlight":true,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[{"id":186804066,"gmtCreate":1623482221855,"gmtModify":1704204872331,"author":{"id":"3576031533816126","authorId":"3576031533816126","name":"kukuniao","avatar":"https://static.tigerbbs.com/e2bcc0cf2ff759243bcb5c9d5662d212","vip":1,"crmLevel":4,"crmLevelSwitch":0,"authorIdStr":"3576031533816126","idStr":"3576031533816126"},"htmlText":"It's always important isn't it","listText":"It's always important isn't it","text":"It's always important isn't it","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/186804066","repostId":1145537442,"repostType":4,"repost":{"id":"1145537442","kind":"news","pubTimestamp":1623419872,"share":"https://ttm.financial/m/news/1145537442?lang=&edition=fundamental","pubTime":"2021-06-11 21:57","market":"us","language":"en","title":"\"As I Was Going To St Ives\"... Why Today's G7 Meeting Is Important","url":"https://stock-news.laohu8.com/highlight/detail?id=1145537442","media":"zerohedge","summary":"As I was going to St Ives...\n\n“As I was going to St. Ives, I met a man with(G)\n 7 wives; Each wife h","content":"As I was going to St Ives...\n<blockquote>\n “As I was going to St. Ives, I met a man with(G)\n 7 wives; Each wife had(G)\n 7 sacks; Each sack had(G)\n 7 cats; Each cat had(G)\n 7 kits; Kits, cats, sacks, and wives, How many were there going to St. Ives?”\n</blockquote>\nThis old English riddle is appropriate today givenG7 leaders’ (and wives, sacks, cats, and kits) are allinSt Ives, Cornwall – and traffic is murder as a result. Don’t even think about trying to get a cream tea there.\nThe multiplicative element of the riddle also seems appropriate given inflation keeps running hot – and the market keeps saying not.Yesterday’s US CPI report surprised to the upside, with headline inflation up 0.6% m/m and 5.0% y/y, while even core CPI was up 0.7% m/m and 3.8% y/y. “Sic transit(ory) in incremento pretiorum mundi,”said the US Treasury market, with10-year yields spiking 5bp to 1.53% - and then collapsing back to 1.43% againregardless. The riddle contained in *that* is perhaps answered by short-covering, and the market seeing this surge as still a re-opening related supply shock (used car prices, etc., etc.) with no wage response looming, and so it will end up as destructive of demand in the end. Moreover, the surge in US demand weareclearly seeing, until current stimulus runs out in a few months, and the ever-present monthly Fed QE largesse, is seeing exporters to the US make serious hay, and their FX reserve levels surge in tandem. Those dollars have to go somewhere other than meme-stonks and rude cryptos: welcome to the Treasury market!\nThat said, there might be more stimulus ahead than thought. Swing senator Manchin, and nine others, have proposed a newcompromise infrastructure fiscal package of $1.0 trillion over 5 years, with no tax hikes. It’s not the $4 trillion first floated over 10 years, but it’s hardly chopped liver at $200bn a year with no off-setting tax hikes – that is around 1% of US GDP alone. Might this move the Treasury needle, or will it be soothed at the climb-down and presumption that even if this happens, none of it will be Made in America, as promised?\nMeanwhile, back to the G7 and entourage. This is an important meeting:there is the 15% tax deal, and opt-outs; a global vaccine plan; the background chill over Northern Ireland and chilled meats; and some commentators see this as US President Biden’s last chance to get Canada and the EU to agree to side with him in what he calls ‘a struggle between democracies and autocracies’, which has the smell of Potsdam and Yalta to it. So, weighty matters.\nThen again, this G7 are no FDR, Churchill, and Stalin. We have Biden, with his Cold War vision; Suga of Japan, ramping up defence spending “dramatically” with a more muscular foreign policy; Moon of South Korea, traditionally more cautious, but edging closer to the US in some key areas; Morrison of Australia, giving Cold War/Churchillian speeches; and Modi of India, via Zoom, clearly leaning US, but obviously focused on Covid-19. But it also means renowned geostrategist Trudeau of Canada; “Sausage wars” Johnson of the UK; just-slapped-in-the-face Macron of France, where a recent poll shows more than half of voters think their political system is “broken”; Draghi of Italy, seen by markets as his country’s last hope, so with his hands already full; and Merkel of obstinately non-geopolitical Germany,today celebrating a test-run of gas through the Nord Stream 2 gas pipeline, and continuing to back doing as much business as possible with China. As such, we should temper expectations:not so much Potsdam and storms in a tea pot?\nYet the suggestion is that if the EU cannot muster enthusiasm to back the US and ‘democracies vs. autocracies’ now, they never will; and while US-EU relations will not then fall to the floor, as under the Trump administration, there will also be a low effective ceiling going forwards – which will matter hugely on many fronts over time. There are many ways to define this Atlantic drift, but perhaps the simplest way is that the US thinks ‘freedom isn’t free’, while the EU clings to the view that freedom is both free and free-trade. Notably, however,the EU has joined the US in calling on China to allow “complete access” for an independent investigation into the origins of Covid-19, which backs it on one particular --and contentious-- front. So we shall have to watch the G7 for further developments.\nMeanwhile, if anyone is thinking that curtains are coming down from only one side of a potential East-West divide,China yesterday passed a new law to push back against foreign sanctions. Legal countermeasures now available to it include \"refusal to issue visas, denial of entry, deportation... and sealing, seizing, andfreezing property of individuals or businesses that adhere to foreign sanctions against Chinese businesses or officials.\" In short, a Western bank or firmmustcomply with US sanctions or lose access to the US market – but now that bank or firm operating in China, and/or its employees, can be legally punished for doing so. This can even apply to family members, and legal experts say perhaps also to think-tanks or journalists, or those on social media, who directly or indirectly advocate for sanctions.\nWe may not see the trigger pulled on that law immediately, but it shows just how much potential decoupling is being stored up ahead.And such decoupling is both very inflationary in some places, who will see supply shift back to them before they are ready, and very deflationary in others, who will see excess supply and no demand.The markets and central banks don’t want to see this geopolitical truth any more than they do the risk that inflation might be anything less than “transitory”.\nWhich brings me back to the opening riddle.\nHow many people were coming from St Ives? It looks like it takes math to work out: and do you include all the wives, and animals, and the man? However, the most common answer is: one -only the narrator was GOING to St Ives, and the others were coming FROM it.Sometimes the simplest answer is right there in front of our faces - but we like to try and hide it with math, cod-philosophy, and “because markets”.\nHappy Friday!","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>\"As I Was Going To St Ives\"... Why Today's G7 Meeting Is Important</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n\"As I Was Going To St Ives\"... Why Today's G7 Meeting Is Important\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-11 21:57 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.zerohedge.com/markets/i-was-going-st-ives-why-todays-g7-meeting-important?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29>zerohedge</a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\nAs I was going to St Ives...\n\n“As I was going to St. Ives, I met a man with(G)\n 7 wives; Each wife had(G)\n 7 sacks; Each sack had(G)\n 7 cats; Each cat had(G)\n 7 kits; Kits, cats, sacks, and wives, How...\n\n<a href=\"https://www.zerohedge.com/markets/i-was-going-st-ives-why-todays-g7-meeting-important?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".DJI":"道琼斯",".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index","SPY":"标普500ETF"},"source_url":"https://www.zerohedge.com/markets/i-was-going-st-ives-why-todays-g7-meeting-important?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1145537442","content_text":"As I was going to St Ives...\n\n“As I was going to St. Ives, I met a man with(G)\n 7 wives; Each wife had(G)\n 7 sacks; Each sack had(G)\n 7 cats; Each cat had(G)\n 7 kits; Kits, cats, sacks, and wives, How many were there going to St. Ives?”\n\nThis old English riddle is appropriate today givenG7 leaders’ (and wives, sacks, cats, and kits) are allinSt Ives, Cornwall – and traffic is murder as a result. Don’t even think about trying to get a cream tea there.\nThe multiplicative element of the riddle also seems appropriate given inflation keeps running hot – and the market keeps saying not.Yesterday’s US CPI report surprised to the upside, with headline inflation up 0.6% m/m and 5.0% y/y, while even core CPI was up 0.7% m/m and 3.8% y/y. “Sic transit(ory) in incremento pretiorum mundi,”said the US Treasury market, with10-year yields spiking 5bp to 1.53% - and then collapsing back to 1.43% againregardless. The riddle contained in *that* is perhaps answered by short-covering, and the market seeing this surge as still a re-opening related supply shock (used car prices, etc., etc.) with no wage response looming, and so it will end up as destructive of demand in the end. Moreover, the surge in US demand weareclearly seeing, until current stimulus runs out in a few months, and the ever-present monthly Fed QE largesse, is seeing exporters to the US make serious hay, and their FX reserve levels surge in tandem. Those dollars have to go somewhere other than meme-stonks and rude cryptos: welcome to the Treasury market!\nThat said, there might be more stimulus ahead than thought. Swing senator Manchin, and nine others, have proposed a newcompromise infrastructure fiscal package of $1.0 trillion over 5 years, with no tax hikes. It’s not the $4 trillion first floated over 10 years, but it’s hardly chopped liver at $200bn a year with no off-setting tax hikes – that is around 1% of US GDP alone. Might this move the Treasury needle, or will it be soothed at the climb-down and presumption that even if this happens, none of it will be Made in America, as promised?\nMeanwhile, back to the G7 and entourage. This is an important meeting:there is the 15% tax deal, and opt-outs; a global vaccine plan; the background chill over Northern Ireland and chilled meats; and some commentators see this as US President Biden’s last chance to get Canada and the EU to agree to side with him in what he calls ‘a struggle between democracies and autocracies’, which has the smell of Potsdam and Yalta to it. So, weighty matters.\nThen again, this G7 are no FDR, Churchill, and Stalin. We have Biden, with his Cold War vision; Suga of Japan, ramping up defence spending “dramatically” with a more muscular foreign policy; Moon of South Korea, traditionally more cautious, but edging closer to the US in some key areas; Morrison of Australia, giving Cold War/Churchillian speeches; and Modi of India, via Zoom, clearly leaning US, but obviously focused on Covid-19. But it also means renowned geostrategist Trudeau of Canada; “Sausage wars” Johnson of the UK; just-slapped-in-the-face Macron of France, where a recent poll shows more than half of voters think their political system is “broken”; Draghi of Italy, seen by markets as his country’s last hope, so with his hands already full; and Merkel of obstinately non-geopolitical Germany,today celebrating a test-run of gas through the Nord Stream 2 gas pipeline, and continuing to back doing as much business as possible with China. As such, we should temper expectations:not so much Potsdam and storms in a tea pot?\nYet the suggestion is that if the EU cannot muster enthusiasm to back the US and ‘democracies vs. autocracies’ now, they never will; and while US-EU relations will not then fall to the floor, as under the Trump administration, there will also be a low effective ceiling going forwards – which will matter hugely on many fronts over time. There are many ways to define this Atlantic drift, but perhaps the simplest way is that the US thinks ‘freedom isn’t free’, while the EU clings to the view that freedom is both free and free-trade. Notably, however,the EU has joined the US in calling on China to allow “complete access” for an independent investigation into the origins of Covid-19, which backs it on one particular --and contentious-- front. So we shall have to watch the G7 for further developments.\nMeanwhile, if anyone is thinking that curtains are coming down from only one side of a potential East-West divide,China yesterday passed a new law to push back against foreign sanctions. Legal countermeasures now available to it include \"refusal to issue visas, denial of entry, deportation... and sealing, seizing, andfreezing property of individuals or businesses that adhere to foreign sanctions against Chinese businesses or officials.\" In short, a Western bank or firmmustcomply with US sanctions or lose access to the US market – but now that bank or firm operating in China, and/or its employees, can be legally punished for doing so. This can even apply to family members, and legal experts say perhaps also to think-tanks or journalists, or those on social media, who directly or indirectly advocate for sanctions.\nWe may not see the trigger pulled on that law immediately, but it shows just how much potential decoupling is being stored up ahead.And such decoupling is both very inflationary in some places, who will see supply shift back to them before they are ready, and very deflationary in others, who will see excess supply and no demand.The markets and central banks don’t want to see this geopolitical truth any more than they do the risk that inflation might be anything less than “transitory”.\nWhich brings me back to the opening riddle.\nHow many people were coming from St Ives? It looks like it takes math to work out: and do you include all the wives, and animals, and the man? However, the most common answer is: one -only the narrator was GOING to St Ives, and the others were coming FROM it.Sometimes the simplest answer is right there in front of our faces - but we like to try and hide it with math, cod-philosophy, and “because markets”.\nHappy Friday!","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":188522824,"gmtCreate":1623455939168,"gmtModify":1704203997586,"author":{"id":"3581678063090878","authorId":"3581678063090878","name":"ckhing","avatar":"https://static.tigerbbs.com/1a89f9da70f6641eb874f3d9ddf8b130","vip":1,"crmLevel":2,"crmLevelSwitch":0,"authorIdStr":"3581678063090878","idStr":"3581678063090878"},"htmlText":"Please good news","listText":"Please good news","text":"Please good news","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/188522824","repostId":1145537442,"repostType":4,"repost":{"id":"1145537442","kind":"news","pubTimestamp":1623419872,"share":"https://ttm.financial/m/news/1145537442?lang=&edition=fundamental","pubTime":"2021-06-11 21:57","market":"us","language":"en","title":"\"As I Was Going To St Ives\"... Why Today's G7 Meeting Is Important","url":"https://stock-news.laohu8.com/highlight/detail?id=1145537442","media":"zerohedge","summary":"As I was going to St Ives...\n\n“As I was going to St. Ives, I met a man with(G)\n 7 wives; Each wife h","content":"As I was going to St Ives...\n<blockquote>\n “As I was going to St. Ives, I met a man with(G)\n 7 wives; Each wife had(G)\n 7 sacks; Each sack had(G)\n 7 cats; Each cat had(G)\n 7 kits; Kits, cats, sacks, and wives, How many were there going to St. Ives?”\n</blockquote>\nThis old English riddle is appropriate today givenG7 leaders’ (and wives, sacks, cats, and kits) are allinSt Ives, Cornwall – and traffic is murder as a result. Don’t even think about trying to get a cream tea there.\nThe multiplicative element of the riddle also seems appropriate given inflation keeps running hot – and the market keeps saying not.Yesterday’s US CPI report surprised to the upside, with headline inflation up 0.6% m/m and 5.0% y/y, while even core CPI was up 0.7% m/m and 3.8% y/y. “Sic transit(ory) in incremento pretiorum mundi,”said the US Treasury market, with10-year yields spiking 5bp to 1.53% - and then collapsing back to 1.43% againregardless. The riddle contained in *that* is perhaps answered by short-covering, and the market seeing this surge as still a re-opening related supply shock (used car prices, etc., etc.) with no wage response looming, and so it will end up as destructive of demand in the end. Moreover, the surge in US demand weareclearly seeing, until current stimulus runs out in a few months, and the ever-present monthly Fed QE largesse, is seeing exporters to the US make serious hay, and their FX reserve levels surge in tandem. Those dollars have to go somewhere other than meme-stonks and rude cryptos: welcome to the Treasury market!\nThat said, there might be more stimulus ahead than thought. Swing senator Manchin, and nine others, have proposed a newcompromise infrastructure fiscal package of $1.0 trillion over 5 years, with no tax hikes. It’s not the $4 trillion first floated over 10 years, but it’s hardly chopped liver at $200bn a year with no off-setting tax hikes – that is around 1% of US GDP alone. Might this move the Treasury needle, or will it be soothed at the climb-down and presumption that even if this happens, none of it will be Made in America, as promised?\nMeanwhile, back to the G7 and entourage. This is an important meeting:there is the 15% tax deal, and opt-outs; a global vaccine plan; the background chill over Northern Ireland and chilled meats; and some commentators see this as US President Biden’s last chance to get Canada and the EU to agree to side with him in what he calls ‘a struggle between democracies and autocracies’, which has the smell of Potsdam and Yalta to it. So, weighty matters.\nThen again, this G7 are no FDR, Churchill, and Stalin. We have Biden, with his Cold War vision; Suga of Japan, ramping up defence spending “dramatically” with a more muscular foreign policy; Moon of South Korea, traditionally more cautious, but edging closer to the US in some key areas; Morrison of Australia, giving Cold War/Churchillian speeches; and Modi of India, via Zoom, clearly leaning US, but obviously focused on Covid-19. But it also means renowned geostrategist Trudeau of Canada; “Sausage wars” Johnson of the UK; just-slapped-in-the-face Macron of France, where a recent poll shows more than half of voters think their political system is “broken”; Draghi of Italy, seen by markets as his country’s last hope, so with his hands already full; and Merkel of obstinately non-geopolitical Germany,today celebrating a test-run of gas through the Nord Stream 2 gas pipeline, and continuing to back doing as much business as possible with China. As such, we should temper expectations:not so much Potsdam and storms in a tea pot?\nYet the suggestion is that if the EU cannot muster enthusiasm to back the US and ‘democracies vs. autocracies’ now, they never will; and while US-EU relations will not then fall to the floor, as under the Trump administration, there will also be a low effective ceiling going forwards – which will matter hugely on many fronts over time. There are many ways to define this Atlantic drift, but perhaps the simplest way is that the US thinks ‘freedom isn’t free’, while the EU clings to the view that freedom is both free and free-trade. Notably, however,the EU has joined the US in calling on China to allow “complete access” for an independent investigation into the origins of Covid-19, which backs it on one particular --and contentious-- front. So we shall have to watch the G7 for further developments.\nMeanwhile, if anyone is thinking that curtains are coming down from only one side of a potential East-West divide,China yesterday passed a new law to push back against foreign sanctions. Legal countermeasures now available to it include \"refusal to issue visas, denial of entry, deportation... and sealing, seizing, andfreezing property of individuals or businesses that adhere to foreign sanctions against Chinese businesses or officials.\" In short, a Western bank or firmmustcomply with US sanctions or lose access to the US market – but now that bank or firm operating in China, and/or its employees, can be legally punished for doing so. This can even apply to family members, and legal experts say perhaps also to think-tanks or journalists, or those on social media, who directly or indirectly advocate for sanctions.\nWe may not see the trigger pulled on that law immediately, but it shows just how much potential decoupling is being stored up ahead.And such decoupling is both very inflationary in some places, who will see supply shift back to them before they are ready, and very deflationary in others, who will see excess supply and no demand.The markets and central banks don’t want to see this geopolitical truth any more than they do the risk that inflation might be anything less than “transitory”.\nWhich brings me back to the opening riddle.\nHow many people were coming from St Ives? It looks like it takes math to work out: and do you include all the wives, and animals, and the man? However, the most common answer is: one -only the narrator was GOING to St Ives, and the others were coming FROM it.Sometimes the simplest answer is right there in front of our faces - but we like to try and hide it with math, cod-philosophy, and “because markets”.\nHappy Friday!","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>\"As I Was Going To St Ives\"... Why Today's G7 Meeting Is Important</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n\"As I Was Going To St Ives\"... Why Today's G7 Meeting Is Important\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-11 21:57 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.zerohedge.com/markets/i-was-going-st-ives-why-todays-g7-meeting-important?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29>zerohedge</a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\nAs I was going to St Ives...\n\n“As I was going to St. Ives, I met a man with(G)\n 7 wives; Each wife had(G)\n 7 sacks; Each sack had(G)\n 7 cats; Each cat had(G)\n 7 kits; Kits, cats, sacks, and wives, How...\n\n<a href=\"https://www.zerohedge.com/markets/i-was-going-st-ives-why-todays-g7-meeting-important?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".DJI":"道琼斯",".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index","SPY":"标普500ETF"},"source_url":"https://www.zerohedge.com/markets/i-was-going-st-ives-why-todays-g7-meeting-important?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1145537442","content_text":"As I was going to St Ives...\n\n“As I was going to St. Ives, I met a man with(G)\n 7 wives; Each wife had(G)\n 7 sacks; Each sack had(G)\n 7 cats; Each cat had(G)\n 7 kits; Kits, cats, sacks, and wives, How many were there going to St. Ives?”\n\nThis old English riddle is appropriate today givenG7 leaders’ (and wives, sacks, cats, and kits) are allinSt Ives, Cornwall – and traffic is murder as a result. Don’t even think about trying to get a cream tea there.\nThe multiplicative element of the riddle also seems appropriate given inflation keeps running hot – and the market keeps saying not.Yesterday’s US CPI report surprised to the upside, with headline inflation up 0.6% m/m and 5.0% y/y, while even core CPI was up 0.7% m/m and 3.8% y/y. “Sic transit(ory) in incremento pretiorum mundi,”said the US Treasury market, with10-year yields spiking 5bp to 1.53% - and then collapsing back to 1.43% againregardless. The riddle contained in *that* is perhaps answered by short-covering, and the market seeing this surge as still a re-opening related supply shock (used car prices, etc., etc.) with no wage response looming, and so it will end up as destructive of demand in the end. Moreover, the surge in US demand weareclearly seeing, until current stimulus runs out in a few months, and the ever-present monthly Fed QE largesse, is seeing exporters to the US make serious hay, and their FX reserve levels surge in tandem. Those dollars have to go somewhere other than meme-stonks and rude cryptos: welcome to the Treasury market!\nThat said, there might be more stimulus ahead than thought. Swing senator Manchin, and nine others, have proposed a newcompromise infrastructure fiscal package of $1.0 trillion over 5 years, with no tax hikes. It’s not the $4 trillion first floated over 10 years, but it’s hardly chopped liver at $200bn a year with no off-setting tax hikes – that is around 1% of US GDP alone. Might this move the Treasury needle, or will it be soothed at the climb-down and presumption that even if this happens, none of it will be Made in America, as promised?\nMeanwhile, back to the G7 and entourage. This is an important meeting:there is the 15% tax deal, and opt-outs; a global vaccine plan; the background chill over Northern Ireland and chilled meats; and some commentators see this as US President Biden’s last chance to get Canada and the EU to agree to side with him in what he calls ‘a struggle between democracies and autocracies’, which has the smell of Potsdam and Yalta to it. So, weighty matters.\nThen again, this G7 are no FDR, Churchill, and Stalin. We have Biden, with his Cold War vision; Suga of Japan, ramping up defence spending “dramatically” with a more muscular foreign policy; Moon of South Korea, traditionally more cautious, but edging closer to the US in some key areas; Morrison of Australia, giving Cold War/Churchillian speeches; and Modi of India, via Zoom, clearly leaning US, but obviously focused on Covid-19. But it also means renowned geostrategist Trudeau of Canada; “Sausage wars” Johnson of the UK; just-slapped-in-the-face Macron of France, where a recent poll shows more than half of voters think their political system is “broken”; Draghi of Italy, seen by markets as his country’s last hope, so with his hands already full; and Merkel of obstinately non-geopolitical Germany,today celebrating a test-run of gas through the Nord Stream 2 gas pipeline, and continuing to back doing as much business as possible with China. As such, we should temper expectations:not so much Potsdam and storms in a tea pot?\nYet the suggestion is that if the EU cannot muster enthusiasm to back the US and ‘democracies vs. autocracies’ now, they never will; and while US-EU relations will not then fall to the floor, as under the Trump administration, there will also be a low effective ceiling going forwards – which will matter hugely on many fronts over time. There are many ways to define this Atlantic drift, but perhaps the simplest way is that the US thinks ‘freedom isn’t free’, while the EU clings to the view that freedom is both free and free-trade. Notably, however,the EU has joined the US in calling on China to allow “complete access” for an independent investigation into the origins of Covid-19, which backs it on one particular --and contentious-- front. So we shall have to watch the G7 for further developments.\nMeanwhile, if anyone is thinking that curtains are coming down from only one side of a potential East-West divide,China yesterday passed a new law to push back against foreign sanctions. Legal countermeasures now available to it include \"refusal to issue visas, denial of entry, deportation... and sealing, seizing, andfreezing property of individuals or businesses that adhere to foreign sanctions against Chinese businesses or officials.\" In short, a Western bank or firmmustcomply with US sanctions or lose access to the US market – but now that bank or firm operating in China, and/or its employees, can be legally punished for doing so. This can even apply to family members, and legal experts say perhaps also to think-tanks or journalists, or those on social media, who directly or indirectly advocate for sanctions.\nWe may not see the trigger pulled on that law immediately, but it shows just how much potential decoupling is being stored up ahead.And such decoupling is both very inflationary in some places, who will see supply shift back to them before they are ready, and very deflationary in others, who will see excess supply and no demand.The markets and central banks don’t want to see this geopolitical truth any more than they do the risk that inflation might be anything less than “transitory”.\nWhich brings me back to the opening riddle.\nHow many people were coming from St Ives? It looks like it takes math to work out: and do you include all the wives, and animals, and the man? However, the most common answer is: one -only the narrator was GOING to St Ives, and the others were coming FROM it.Sometimes the simplest answer is right there in front of our faces - but we like to try and hide it with math, cod-philosophy, and “because markets”.\nHappy Friday!","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":188259576,"gmtCreate":1623451119095,"gmtModify":1704203866262,"author":{"id":"3575302420482909","authorId":"3575302420482909","name":"Darwinpro","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":2,"crmLevelSwitch":0,"authorIdStr":"3575302420482909","idStr":"3575302420482909"},"htmlText":"Cool","listText":"Cool","text":"Cool","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/188259576","repostId":1145537442,"repostType":4,"repost":{"id":"1145537442","kind":"news","pubTimestamp":1623419872,"share":"https://ttm.financial/m/news/1145537442?lang=&edition=fundamental","pubTime":"2021-06-11 21:57","market":"us","language":"en","title":"\"As I Was Going To St Ives\"... Why Today's G7 Meeting Is Important","url":"https://stock-news.laohu8.com/highlight/detail?id=1145537442","media":"zerohedge","summary":"As I was going to St Ives...\n\n“As I was going to St. Ives, I met a man with(G)\n 7 wives; Each wife h","content":"As I was going to St Ives...\n<blockquote>\n “As I was going to St. Ives, I met a man with(G)\n 7 wives; Each wife had(G)\n 7 sacks; Each sack had(G)\n 7 cats; Each cat had(G)\n 7 kits; Kits, cats, sacks, and wives, How many were there going to St. Ives?”\n</blockquote>\nThis old English riddle is appropriate today givenG7 leaders’ (and wives, sacks, cats, and kits) are allinSt Ives, Cornwall – and traffic is murder as a result. Don’t even think about trying to get a cream tea there.\nThe multiplicative element of the riddle also seems appropriate given inflation keeps running hot – and the market keeps saying not.Yesterday’s US CPI report surprised to the upside, with headline inflation up 0.6% m/m and 5.0% y/y, while even core CPI was up 0.7% m/m and 3.8% y/y. “Sic transit(ory) in incremento pretiorum mundi,”said the US Treasury market, with10-year yields spiking 5bp to 1.53% - and then collapsing back to 1.43% againregardless. The riddle contained in *that* is perhaps answered by short-covering, and the market seeing this surge as still a re-opening related supply shock (used car prices, etc., etc.) with no wage response looming, and so it will end up as destructive of demand in the end. Moreover, the surge in US demand weareclearly seeing, until current stimulus runs out in a few months, and the ever-present monthly Fed QE largesse, is seeing exporters to the US make serious hay, and their FX reserve levels surge in tandem. Those dollars have to go somewhere other than meme-stonks and rude cryptos: welcome to the Treasury market!\nThat said, there might be more stimulus ahead than thought. Swing senator Manchin, and nine others, have proposed a newcompromise infrastructure fiscal package of $1.0 trillion over 5 years, with no tax hikes. It’s not the $4 trillion first floated over 10 years, but it’s hardly chopped liver at $200bn a year with no off-setting tax hikes – that is around 1% of US GDP alone. Might this move the Treasury needle, or will it be soothed at the climb-down and presumption that even if this happens, none of it will be Made in America, as promised?\nMeanwhile, back to the G7 and entourage. This is an important meeting:there is the 15% tax deal, and opt-outs; a global vaccine plan; the background chill over Northern Ireland and chilled meats; and some commentators see this as US President Biden’s last chance to get Canada and the EU to agree to side with him in what he calls ‘a struggle between democracies and autocracies’, which has the smell of Potsdam and Yalta to it. So, weighty matters.\nThen again, this G7 are no FDR, Churchill, and Stalin. We have Biden, with his Cold War vision; Suga of Japan, ramping up defence spending “dramatically” with a more muscular foreign policy; Moon of South Korea, traditionally more cautious, but edging closer to the US in some key areas; Morrison of Australia, giving Cold War/Churchillian speeches; and Modi of India, via Zoom, clearly leaning US, but obviously focused on Covid-19. But it also means renowned geostrategist Trudeau of Canada; “Sausage wars” Johnson of the UK; just-slapped-in-the-face Macron of France, where a recent poll shows more than half of voters think their political system is “broken”; Draghi of Italy, seen by markets as his country’s last hope, so with his hands already full; and Merkel of obstinately non-geopolitical Germany,today celebrating a test-run of gas through the Nord Stream 2 gas pipeline, and continuing to back doing as much business as possible with China. As such, we should temper expectations:not so much Potsdam and storms in a tea pot?\nYet the suggestion is that if the EU cannot muster enthusiasm to back the US and ‘democracies vs. autocracies’ now, they never will; and while US-EU relations will not then fall to the floor, as under the Trump administration, there will also be a low effective ceiling going forwards – which will matter hugely on many fronts over time. There are many ways to define this Atlantic drift, but perhaps the simplest way is that the US thinks ‘freedom isn’t free’, while the EU clings to the view that freedom is both free and free-trade. Notably, however,the EU has joined the US in calling on China to allow “complete access” for an independent investigation into the origins of Covid-19, which backs it on one particular --and contentious-- front. So we shall have to watch the G7 for further developments.\nMeanwhile, if anyone is thinking that curtains are coming down from only one side of a potential East-West divide,China yesterday passed a new law to push back against foreign sanctions. Legal countermeasures now available to it include \"refusal to issue visas, denial of entry, deportation... and sealing, seizing, andfreezing property of individuals or businesses that adhere to foreign sanctions against Chinese businesses or officials.\" In short, a Western bank or firmmustcomply with US sanctions or lose access to the US market – but now that bank or firm operating in China, and/or its employees, can be legally punished for doing so. This can even apply to family members, and legal experts say perhaps also to think-tanks or journalists, or those on social media, who directly or indirectly advocate for sanctions.\nWe may not see the trigger pulled on that law immediately, but it shows just how much potential decoupling is being stored up ahead.And such decoupling is both very inflationary in some places, who will see supply shift back to them before they are ready, and very deflationary in others, who will see excess supply and no demand.The markets and central banks don’t want to see this geopolitical truth any more than they do the risk that inflation might be anything less than “transitory”.\nWhich brings me back to the opening riddle.\nHow many people were coming from St Ives? It looks like it takes math to work out: and do you include all the wives, and animals, and the man? However, the most common answer is: one -only the narrator was GOING to St Ives, and the others were coming FROM it.Sometimes the simplest answer is right there in front of our faces - but we like to try and hide it with math, cod-philosophy, and “because markets”.\nHappy Friday!","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>\"As I Was Going To St Ives\"... Why Today's G7 Meeting Is Important</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n\"As I Was Going To St Ives\"... Why Today's G7 Meeting Is Important\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-11 21:57 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.zerohedge.com/markets/i-was-going-st-ives-why-todays-g7-meeting-important?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29>zerohedge</a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\nAs I was going to St Ives...\n\n“As I was going to St. Ives, I met a man with(G)\n 7 wives; Each wife had(G)\n 7 sacks; Each sack had(G)\n 7 cats; Each cat had(G)\n 7 kits; Kits, cats, sacks, and wives, How...\n\n<a href=\"https://www.zerohedge.com/markets/i-was-going-st-ives-why-todays-g7-meeting-important?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".DJI":"道琼斯",".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index","SPY":"标普500ETF"},"source_url":"https://www.zerohedge.com/markets/i-was-going-st-ives-why-todays-g7-meeting-important?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1145537442","content_text":"As I was going to St Ives...\n\n“As I was going to St. Ives, I met a man with(G)\n 7 wives; Each wife had(G)\n 7 sacks; Each sack had(G)\n 7 cats; Each cat had(G)\n 7 kits; Kits, cats, sacks, and wives, How many were there going to St. Ives?”\n\nThis old English riddle is appropriate today givenG7 leaders’ (and wives, sacks, cats, and kits) are allinSt Ives, Cornwall – and traffic is murder as a result. Don’t even think about trying to get a cream tea there.\nThe multiplicative element of the riddle also seems appropriate given inflation keeps running hot – and the market keeps saying not.Yesterday’s US CPI report surprised to the upside, with headline inflation up 0.6% m/m and 5.0% y/y, while even core CPI was up 0.7% m/m and 3.8% y/y. “Sic transit(ory) in incremento pretiorum mundi,”said the US Treasury market, with10-year yields spiking 5bp to 1.53% - and then collapsing back to 1.43% againregardless. The riddle contained in *that* is perhaps answered by short-covering, and the market seeing this surge as still a re-opening related supply shock (used car prices, etc., etc.) with no wage response looming, and so it will end up as destructive of demand in the end. Moreover, the surge in US demand weareclearly seeing, until current stimulus runs out in a few months, and the ever-present monthly Fed QE largesse, is seeing exporters to the US make serious hay, and their FX reserve levels surge in tandem. Those dollars have to go somewhere other than meme-stonks and rude cryptos: welcome to the Treasury market!\nThat said, there might be more stimulus ahead than thought. Swing senator Manchin, and nine others, have proposed a newcompromise infrastructure fiscal package of $1.0 trillion over 5 years, with no tax hikes. It’s not the $4 trillion first floated over 10 years, but it’s hardly chopped liver at $200bn a year with no off-setting tax hikes – that is around 1% of US GDP alone. Might this move the Treasury needle, or will it be soothed at the climb-down and presumption that even if this happens, none of it will be Made in America, as promised?\nMeanwhile, back to the G7 and entourage. This is an important meeting:there is the 15% tax deal, and opt-outs; a global vaccine plan; the background chill over Northern Ireland and chilled meats; and some commentators see this as US President Biden’s last chance to get Canada and the EU to agree to side with him in what he calls ‘a struggle between democracies and autocracies’, which has the smell of Potsdam and Yalta to it. So, weighty matters.\nThen again, this G7 are no FDR, Churchill, and Stalin. We have Biden, with his Cold War vision; Suga of Japan, ramping up defence spending “dramatically” with a more muscular foreign policy; Moon of South Korea, traditionally more cautious, but edging closer to the US in some key areas; Morrison of Australia, giving Cold War/Churchillian speeches; and Modi of India, via Zoom, clearly leaning US, but obviously focused on Covid-19. But it also means renowned geostrategist Trudeau of Canada; “Sausage wars” Johnson of the UK; just-slapped-in-the-face Macron of France, where a recent poll shows more than half of voters think their political system is “broken”; Draghi of Italy, seen by markets as his country’s last hope, so with his hands already full; and Merkel of obstinately non-geopolitical Germany,today celebrating a test-run of gas through the Nord Stream 2 gas pipeline, and continuing to back doing as much business as possible with China. As such, we should temper expectations:not so much Potsdam and storms in a tea pot?\nYet the suggestion is that if the EU cannot muster enthusiasm to back the US and ‘democracies vs. autocracies’ now, they never will; and while US-EU relations will not then fall to the floor, as under the Trump administration, there will also be a low effective ceiling going forwards – which will matter hugely on many fronts over time. There are many ways to define this Atlantic drift, but perhaps the simplest way is that the US thinks ‘freedom isn’t free’, while the EU clings to the view that freedom is both free and free-trade. Notably, however,the EU has joined the US in calling on China to allow “complete access” for an independent investigation into the origins of Covid-19, which backs it on one particular --and contentious-- front. So we shall have to watch the G7 for further developments.\nMeanwhile, if anyone is thinking that curtains are coming down from only one side of a potential East-West divide,China yesterday passed a new law to push back against foreign sanctions. Legal countermeasures now available to it include \"refusal to issue visas, denial of entry, deportation... and sealing, seizing, andfreezing property of individuals or businesses that adhere to foreign sanctions against Chinese businesses or officials.\" In short, a Western bank or firmmustcomply with US sanctions or lose access to the US market – but now that bank or firm operating in China, and/or its employees, can be legally punished for doing so. This can even apply to family members, and legal experts say perhaps also to think-tanks or journalists, or those on social media, who directly or indirectly advocate for sanctions.\nWe may not see the trigger pulled on that law immediately, but it shows just how much potential decoupling is being stored up ahead.And such decoupling is both very inflationary in some places, who will see supply shift back to them before they are ready, and very deflationary in others, who will see excess supply and no demand.The markets and central banks don’t want to see this geopolitical truth any more than they do the risk that inflation might be anything less than “transitory”.\nWhich brings me back to the opening riddle.\nHow many people were coming from St Ives? It looks like it takes math to work out: and do you include all the wives, and animals, and the man? However, the most common answer is: one -only the narrator was GOING to St Ives, and the others were coming FROM it.Sometimes the simplest answer is right there in front of our faces - but we like to try and hide it with math, cod-philosophy, and “because markets”.\nHappy Friday!","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":188250317,"gmtCreate":1623450992539,"gmtModify":1704203864160,"author":{"id":"3582014900614963","authorId":"3582014900614963","name":"A1if5","avatar":"https://static.tigerbbs.com/dd64d28e636d29a76ebe9e8e7ab16580","vip":1,"crmLevel":2,"crmLevelSwitch":0,"authorIdStr":"3582014900614963","idStr":"3582014900614963"},"htmlText":"Z","listText":"Z","text":"Z","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/188250317","repostId":1145537442,"repostType":4,"repost":{"id":"1145537442","kind":"news","pubTimestamp":1623419872,"share":"https://ttm.financial/m/news/1145537442?lang=&edition=fundamental","pubTime":"2021-06-11 21:57","market":"us","language":"en","title":"\"As I Was Going To St Ives\"... Why Today's G7 Meeting Is Important","url":"https://stock-news.laohu8.com/highlight/detail?id=1145537442","media":"zerohedge","summary":"As I was going to St Ives...\n\n“As I was going to St. Ives, I met a man with(G)\n 7 wives; Each wife h","content":"As I was going to St Ives...\n<blockquote>\n “As I was going to St. Ives, I met a man with(G)\n 7 wives; Each wife had(G)\n 7 sacks; Each sack had(G)\n 7 cats; Each cat had(G)\n 7 kits; Kits, cats, sacks, and wives, How many were there going to St. Ives?”\n</blockquote>\nThis old English riddle is appropriate today givenG7 leaders’ (and wives, sacks, cats, and kits) are allinSt Ives, Cornwall – and traffic is murder as a result. Don’t even think about trying to get a cream tea there.\nThe multiplicative element of the riddle also seems appropriate given inflation keeps running hot – and the market keeps saying not.Yesterday’s US CPI report surprised to the upside, with headline inflation up 0.6% m/m and 5.0% y/y, while even core CPI was up 0.7% m/m and 3.8% y/y. “Sic transit(ory) in incremento pretiorum mundi,”said the US Treasury market, with10-year yields spiking 5bp to 1.53% - and then collapsing back to 1.43% againregardless. The riddle contained in *that* is perhaps answered by short-covering, and the market seeing this surge as still a re-opening related supply shock (used car prices, etc., etc.) with no wage response looming, and so it will end up as destructive of demand in the end. Moreover, the surge in US demand weareclearly seeing, until current stimulus runs out in a few months, and the ever-present monthly Fed QE largesse, is seeing exporters to the US make serious hay, and their FX reserve levels surge in tandem. Those dollars have to go somewhere other than meme-stonks and rude cryptos: welcome to the Treasury market!\nThat said, there might be more stimulus ahead than thought. Swing senator Manchin, and nine others, have proposed a newcompromise infrastructure fiscal package of $1.0 trillion over 5 years, with no tax hikes. It’s not the $4 trillion first floated over 10 years, but it’s hardly chopped liver at $200bn a year with no off-setting tax hikes – that is around 1% of US GDP alone. Might this move the Treasury needle, or will it be soothed at the climb-down and presumption that even if this happens, none of it will be Made in America, as promised?\nMeanwhile, back to the G7 and entourage. This is an important meeting:there is the 15% tax deal, and opt-outs; a global vaccine plan; the background chill over Northern Ireland and chilled meats; and some commentators see this as US President Biden’s last chance to get Canada and the EU to agree to side with him in what he calls ‘a struggle between democracies and autocracies’, which has the smell of Potsdam and Yalta to it. So, weighty matters.\nThen again, this G7 are no FDR, Churchill, and Stalin. We have Biden, with his Cold War vision; Suga of Japan, ramping up defence spending “dramatically” with a more muscular foreign policy; Moon of South Korea, traditionally more cautious, but edging closer to the US in some key areas; Morrison of Australia, giving Cold War/Churchillian speeches; and Modi of India, via Zoom, clearly leaning US, but obviously focused on Covid-19. But it also means renowned geostrategist Trudeau of Canada; “Sausage wars” Johnson of the UK; just-slapped-in-the-face Macron of France, where a recent poll shows more than half of voters think their political system is “broken”; Draghi of Italy, seen by markets as his country’s last hope, so with his hands already full; and Merkel of obstinately non-geopolitical Germany,today celebrating a test-run of gas through the Nord Stream 2 gas pipeline, and continuing to back doing as much business as possible with China. As such, we should temper expectations:not so much Potsdam and storms in a tea pot?\nYet the suggestion is that if the EU cannot muster enthusiasm to back the US and ‘democracies vs. autocracies’ now, they never will; and while US-EU relations will not then fall to the floor, as under the Trump administration, there will also be a low effective ceiling going forwards – which will matter hugely on many fronts over time. There are many ways to define this Atlantic drift, but perhaps the simplest way is that the US thinks ‘freedom isn’t free’, while the EU clings to the view that freedom is both free and free-trade. Notably, however,the EU has joined the US in calling on China to allow “complete access” for an independent investigation into the origins of Covid-19, which backs it on one particular --and contentious-- front. So we shall have to watch the G7 for further developments.\nMeanwhile, if anyone is thinking that curtains are coming down from only one side of a potential East-West divide,China yesterday passed a new law to push back against foreign sanctions. Legal countermeasures now available to it include \"refusal to issue visas, denial of entry, deportation... and sealing, seizing, andfreezing property of individuals or businesses that adhere to foreign sanctions against Chinese businesses or officials.\" In short, a Western bank or firmmustcomply with US sanctions or lose access to the US market – but now that bank or firm operating in China, and/or its employees, can be legally punished for doing so. This can even apply to family members, and legal experts say perhaps also to think-tanks or journalists, or those on social media, who directly or indirectly advocate for sanctions.\nWe may not see the trigger pulled on that law immediately, but it shows just how much potential decoupling is being stored up ahead.And such decoupling is both very inflationary in some places, who will see supply shift back to them before they are ready, and very deflationary in others, who will see excess supply and no demand.The markets and central banks don’t want to see this geopolitical truth any more than they do the risk that inflation might be anything less than “transitory”.\nWhich brings me back to the opening riddle.\nHow many people were coming from St Ives? It looks like it takes math to work out: and do you include all the wives, and animals, and the man? However, the most common answer is: one -only the narrator was GOING to St Ives, and the others were coming FROM it.Sometimes the simplest answer is right there in front of our faces - but we like to try and hide it with math, cod-philosophy, and “because markets”.\nHappy Friday!","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>\"As I Was Going To St Ives\"... Why Today's G7 Meeting Is Important</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n\"As I Was Going To St Ives\"... Why Today's G7 Meeting Is Important\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-11 21:57 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.zerohedge.com/markets/i-was-going-st-ives-why-todays-g7-meeting-important?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29>zerohedge</a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\nAs I was going to St Ives...\n\n“As I was going to St. Ives, I met a man with(G)\n 7 wives; Each wife had(G)\n 7 sacks; Each sack had(G)\n 7 cats; Each cat had(G)\n 7 kits; Kits, cats, sacks, and wives, How...\n\n<a href=\"https://www.zerohedge.com/markets/i-was-going-st-ives-why-todays-g7-meeting-important?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".DJI":"道琼斯",".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index","SPY":"标普500ETF"},"source_url":"https://www.zerohedge.com/markets/i-was-going-st-ives-why-todays-g7-meeting-important?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1145537442","content_text":"As I was going to St Ives...\n\n“As I was going to St. Ives, I met a man with(G)\n 7 wives; Each wife had(G)\n 7 sacks; Each sack had(G)\n 7 cats; Each cat had(G)\n 7 kits; Kits, cats, sacks, and wives, How many were there going to St. Ives?”\n\nThis old English riddle is appropriate today givenG7 leaders’ (and wives, sacks, cats, and kits) are allinSt Ives, Cornwall – and traffic is murder as a result. Don’t even think about trying to get a cream tea there.\nThe multiplicative element of the riddle also seems appropriate given inflation keeps running hot – and the market keeps saying not.Yesterday’s US CPI report surprised to the upside, with headline inflation up 0.6% m/m and 5.0% y/y, while even core CPI was up 0.7% m/m and 3.8% y/y. “Sic transit(ory) in incremento pretiorum mundi,”said the US Treasury market, with10-year yields spiking 5bp to 1.53% - and then collapsing back to 1.43% againregardless. The riddle contained in *that* is perhaps answered by short-covering, and the market seeing this surge as still a re-opening related supply shock (used car prices, etc., etc.) with no wage response looming, and so it will end up as destructive of demand in the end. Moreover, the surge in US demand weareclearly seeing, until current stimulus runs out in a few months, and the ever-present monthly Fed QE largesse, is seeing exporters to the US make serious hay, and their FX reserve levels surge in tandem. Those dollars have to go somewhere other than meme-stonks and rude cryptos: welcome to the Treasury market!\nThat said, there might be more stimulus ahead than thought. Swing senator Manchin, and nine others, have proposed a newcompromise infrastructure fiscal package of $1.0 trillion over 5 years, with no tax hikes. It’s not the $4 trillion first floated over 10 years, but it’s hardly chopped liver at $200bn a year with no off-setting tax hikes – that is around 1% of US GDP alone. Might this move the Treasury needle, or will it be soothed at the climb-down and presumption that even if this happens, none of it will be Made in America, as promised?\nMeanwhile, back to the G7 and entourage. This is an important meeting:there is the 15% tax deal, and opt-outs; a global vaccine plan; the background chill over Northern Ireland and chilled meats; and some commentators see this as US President Biden’s last chance to get Canada and the EU to agree to side with him in what he calls ‘a struggle between democracies and autocracies’, which has the smell of Potsdam and Yalta to it. So, weighty matters.\nThen again, this G7 are no FDR, Churchill, and Stalin. We have Biden, with his Cold War vision; Suga of Japan, ramping up defence spending “dramatically” with a more muscular foreign policy; Moon of South Korea, traditionally more cautious, but edging closer to the US in some key areas; Morrison of Australia, giving Cold War/Churchillian speeches; and Modi of India, via Zoom, clearly leaning US, but obviously focused on Covid-19. But it also means renowned geostrategist Trudeau of Canada; “Sausage wars” Johnson of the UK; just-slapped-in-the-face Macron of France, where a recent poll shows more than half of voters think their political system is “broken”; Draghi of Italy, seen by markets as his country’s last hope, so with his hands already full; and Merkel of obstinately non-geopolitical Germany,today celebrating a test-run of gas through the Nord Stream 2 gas pipeline, and continuing to back doing as much business as possible with China. As such, we should temper expectations:not so much Potsdam and storms in a tea pot?\nYet the suggestion is that if the EU cannot muster enthusiasm to back the US and ‘democracies vs. autocracies’ now, they never will; and while US-EU relations will not then fall to the floor, as under the Trump administration, there will also be a low effective ceiling going forwards – which will matter hugely on many fronts over time. There are many ways to define this Atlantic drift, but perhaps the simplest way is that the US thinks ‘freedom isn’t free’, while the EU clings to the view that freedom is both free and free-trade. Notably, however,the EU has joined the US in calling on China to allow “complete access” for an independent investigation into the origins of Covid-19, which backs it on one particular --and contentious-- front. So we shall have to watch the G7 for further developments.\nMeanwhile, if anyone is thinking that curtains are coming down from only one side of a potential East-West divide,China yesterday passed a new law to push back against foreign sanctions. Legal countermeasures now available to it include \"refusal to issue visas, denial of entry, deportation... and sealing, seizing, andfreezing property of individuals or businesses that adhere to foreign sanctions against Chinese businesses or officials.\" In short, a Western bank or firmmustcomply with US sanctions or lose access to the US market – but now that bank or firm operating in China, and/or its employees, can be legally punished for doing so. This can even apply to family members, and legal experts say perhaps also to think-tanks or journalists, or those on social media, who directly or indirectly advocate for sanctions.\nWe may not see the trigger pulled on that law immediately, but it shows just how much potential decoupling is being stored up ahead.And such decoupling is both very inflationary in some places, who will see supply shift back to them before they are ready, and very deflationary in others, who will see excess supply and no demand.The markets and central banks don’t want to see this geopolitical truth any more than they do the risk that inflation might be anything less than “transitory”.\nWhich brings me back to the opening riddle.\nHow many people were coming from St Ives? It looks like it takes math to work out: and do you include all the wives, and animals, and the man? However, the most common answer is: one -only the narrator was GOING to St Ives, and the others were coming FROM it.Sometimes the simplest answer is right there in front of our faces - but we like to try and hide it with math, cod-philosophy, and “because markets”.\nHappy Friday!","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":188267673,"gmtCreate":1623450004192,"gmtModify":1704203849743,"author":{"id":"3581510438154815","authorId":"3581510438154815","name":"QueenLT","avatar":"https://static.tigerbbs.com/4a3dfe6ddc0785223dd5b0574909d564","vip":1,"crmLevel":6,"crmLevelSwitch":0,"authorIdStr":"3581510438154815","idStr":"3581510438154815"},"htmlText":"Hi","listText":"Hi","text":"Hi","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/188267673","repostId":1145537442,"repostType":4,"repost":{"id":"1145537442","kind":"news","pubTimestamp":1623419872,"share":"https://ttm.financial/m/news/1145537442?lang=&edition=fundamental","pubTime":"2021-06-11 21:57","market":"us","language":"en","title":"\"As I Was Going To St Ives\"... Why Today's G7 Meeting Is Important","url":"https://stock-news.laohu8.com/highlight/detail?id=1145537442","media":"zerohedge","summary":"As I was going to St Ives...\n\n“As I was going to St. Ives, I met a man with(G)\n 7 wives; Each wife h","content":"As I was going to St Ives...\n<blockquote>\n “As I was going to St. Ives, I met a man with(G)\n 7 wives; Each wife had(G)\n 7 sacks; Each sack had(G)\n 7 cats; Each cat had(G)\n 7 kits; Kits, cats, sacks, and wives, How many were there going to St. Ives?”\n</blockquote>\nThis old English riddle is appropriate today givenG7 leaders’ (and wives, sacks, cats, and kits) are allinSt Ives, Cornwall – and traffic is murder as a result. Don’t even think about trying to get a cream tea there.\nThe multiplicative element of the riddle also seems appropriate given inflation keeps running hot – and the market keeps saying not.Yesterday’s US CPI report surprised to the upside, with headline inflation up 0.6% m/m and 5.0% y/y, while even core CPI was up 0.7% m/m and 3.8% y/y. “Sic transit(ory) in incremento pretiorum mundi,”said the US Treasury market, with10-year yields spiking 5bp to 1.53% - and then collapsing back to 1.43% againregardless. The riddle contained in *that* is perhaps answered by short-covering, and the market seeing this surge as still a re-opening related supply shock (used car prices, etc., etc.) with no wage response looming, and so it will end up as destructive of demand in the end. Moreover, the surge in US demand weareclearly seeing, until current stimulus runs out in a few months, and the ever-present monthly Fed QE largesse, is seeing exporters to the US make serious hay, and their FX reserve levels surge in tandem. Those dollars have to go somewhere other than meme-stonks and rude cryptos: welcome to the Treasury market!\nThat said, there might be more stimulus ahead than thought. Swing senator Manchin, and nine others, have proposed a newcompromise infrastructure fiscal package of $1.0 trillion over 5 years, with no tax hikes. It’s not the $4 trillion first floated over 10 years, but it’s hardly chopped liver at $200bn a year with no off-setting tax hikes – that is around 1% of US GDP alone. Might this move the Treasury needle, or will it be soothed at the climb-down and presumption that even if this happens, none of it will be Made in America, as promised?\nMeanwhile, back to the G7 and entourage. This is an important meeting:there is the 15% tax deal, and opt-outs; a global vaccine plan; the background chill over Northern Ireland and chilled meats; and some commentators see this as US President Biden’s last chance to get Canada and the EU to agree to side with him in what he calls ‘a struggle between democracies and autocracies’, which has the smell of Potsdam and Yalta to it. So, weighty matters.\nThen again, this G7 are no FDR, Churchill, and Stalin. We have Biden, with his Cold War vision; Suga of Japan, ramping up defence spending “dramatically” with a more muscular foreign policy; Moon of South Korea, traditionally more cautious, but edging closer to the US in some key areas; Morrison of Australia, giving Cold War/Churchillian speeches; and Modi of India, via Zoom, clearly leaning US, but obviously focused on Covid-19. But it also means renowned geostrategist Trudeau of Canada; “Sausage wars” Johnson of the UK; just-slapped-in-the-face Macron of France, where a recent poll shows more than half of voters think their political system is “broken”; Draghi of Italy, seen by markets as his country’s last hope, so with his hands already full; and Merkel of obstinately non-geopolitical Germany,today celebrating a test-run of gas through the Nord Stream 2 gas pipeline, and continuing to back doing as much business as possible with China. As such, we should temper expectations:not so much Potsdam and storms in a tea pot?\nYet the suggestion is that if the EU cannot muster enthusiasm to back the US and ‘democracies vs. autocracies’ now, they never will; and while US-EU relations will not then fall to the floor, as under the Trump administration, there will also be a low effective ceiling going forwards – which will matter hugely on many fronts over time. There are many ways to define this Atlantic drift, but perhaps the simplest way is that the US thinks ‘freedom isn’t free’, while the EU clings to the view that freedom is both free and free-trade. Notably, however,the EU has joined the US in calling on China to allow “complete access” for an independent investigation into the origins of Covid-19, which backs it on one particular --and contentious-- front. So we shall have to watch the G7 for further developments.\nMeanwhile, if anyone is thinking that curtains are coming down from only one side of a potential East-West divide,China yesterday passed a new law to push back against foreign sanctions. Legal countermeasures now available to it include \"refusal to issue visas, denial of entry, deportation... and sealing, seizing, andfreezing property of individuals or businesses that adhere to foreign sanctions against Chinese businesses or officials.\" In short, a Western bank or firmmustcomply with US sanctions or lose access to the US market – but now that bank or firm operating in China, and/or its employees, can be legally punished for doing so. This can even apply to family members, and legal experts say perhaps also to think-tanks or journalists, or those on social media, who directly or indirectly advocate for sanctions.\nWe may not see the trigger pulled on that law immediately, but it shows just how much potential decoupling is being stored up ahead.And such decoupling is both very inflationary in some places, who will see supply shift back to them before they are ready, and very deflationary in others, who will see excess supply and no demand.The markets and central banks don’t want to see this geopolitical truth any more than they do the risk that inflation might be anything less than “transitory”.\nWhich brings me back to the opening riddle.\nHow many people were coming from St Ives? It looks like it takes math to work out: and do you include all the wives, and animals, and the man? However, the most common answer is: one -only the narrator was GOING to St Ives, and the others were coming FROM it.Sometimes the simplest answer is right there in front of our faces - but we like to try and hide it with math, cod-philosophy, and “because markets”.\nHappy Friday!","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>\"As I Was Going To St Ives\"... Why Today's G7 Meeting Is Important</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n\"As I Was Going To St Ives\"... Why Today's G7 Meeting Is Important\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-11 21:57 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.zerohedge.com/markets/i-was-going-st-ives-why-todays-g7-meeting-important?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29>zerohedge</a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\nAs I was going to St Ives...\n\n“As I was going to St. Ives, I met a man with(G)\n 7 wives; Each wife had(G)\n 7 sacks; Each sack had(G)\n 7 cats; Each cat had(G)\n 7 kits; Kits, cats, sacks, and wives, How...\n\n<a href=\"https://www.zerohedge.com/markets/i-was-going-st-ives-why-todays-g7-meeting-important?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".DJI":"道琼斯",".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index","SPY":"标普500ETF"},"source_url":"https://www.zerohedge.com/markets/i-was-going-st-ives-why-todays-g7-meeting-important?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1145537442","content_text":"As I was going to St Ives...\n\n“As I was going to St. Ives, I met a man with(G)\n 7 wives; Each wife had(G)\n 7 sacks; Each sack had(G)\n 7 cats; Each cat had(G)\n 7 kits; Kits, cats, sacks, and wives, How many were there going to St. Ives?”\n\nThis old English riddle is appropriate today givenG7 leaders’ (and wives, sacks, cats, and kits) are allinSt Ives, Cornwall – and traffic is murder as a result. Don’t even think about trying to get a cream tea there.\nThe multiplicative element of the riddle also seems appropriate given inflation keeps running hot – and the market keeps saying not.Yesterday’s US CPI report surprised to the upside, with headline inflation up 0.6% m/m and 5.0% y/y, while even core CPI was up 0.7% m/m and 3.8% y/y. “Sic transit(ory) in incremento pretiorum mundi,”said the US Treasury market, with10-year yields spiking 5bp to 1.53% - and then collapsing back to 1.43% againregardless. The riddle contained in *that* is perhaps answered by short-covering, and the market seeing this surge as still a re-opening related supply shock (used car prices, etc., etc.) with no wage response looming, and so it will end up as destructive of demand in the end. Moreover, the surge in US demand weareclearly seeing, until current stimulus runs out in a few months, and the ever-present monthly Fed QE largesse, is seeing exporters to the US make serious hay, and their FX reserve levels surge in tandem. Those dollars have to go somewhere other than meme-stonks and rude cryptos: welcome to the Treasury market!\nThat said, there might be more stimulus ahead than thought. Swing senator Manchin, and nine others, have proposed a newcompromise infrastructure fiscal package of $1.0 trillion over 5 years, with no tax hikes. It’s not the $4 trillion first floated over 10 years, but it’s hardly chopped liver at $200bn a year with no off-setting tax hikes – that is around 1% of US GDP alone. Might this move the Treasury needle, or will it be soothed at the climb-down and presumption that even if this happens, none of it will be Made in America, as promised?\nMeanwhile, back to the G7 and entourage. This is an important meeting:there is the 15% tax deal, and opt-outs; a global vaccine plan; the background chill over Northern Ireland and chilled meats; and some commentators see this as US President Biden’s last chance to get Canada and the EU to agree to side with him in what he calls ‘a struggle between democracies and autocracies’, which has the smell of Potsdam and Yalta to it. So, weighty matters.\nThen again, this G7 are no FDR, Churchill, and Stalin. We have Biden, with his Cold War vision; Suga of Japan, ramping up defence spending “dramatically” with a more muscular foreign policy; Moon of South Korea, traditionally more cautious, but edging closer to the US in some key areas; Morrison of Australia, giving Cold War/Churchillian speeches; and Modi of India, via Zoom, clearly leaning US, but obviously focused on Covid-19. But it also means renowned geostrategist Trudeau of Canada; “Sausage wars” Johnson of the UK; just-slapped-in-the-face Macron of France, where a recent poll shows more than half of voters think their political system is “broken”; Draghi of Italy, seen by markets as his country’s last hope, so with his hands already full; and Merkel of obstinately non-geopolitical Germany,today celebrating a test-run of gas through the Nord Stream 2 gas pipeline, and continuing to back doing as much business as possible with China. As such, we should temper expectations:not so much Potsdam and storms in a tea pot?\nYet the suggestion is that if the EU cannot muster enthusiasm to back the US and ‘democracies vs. autocracies’ now, they never will; and while US-EU relations will not then fall to the floor, as under the Trump administration, there will also be a low effective ceiling going forwards – which will matter hugely on many fronts over time. There are many ways to define this Atlantic drift, but perhaps the simplest way is that the US thinks ‘freedom isn’t free’, while the EU clings to the view that freedom is both free and free-trade. Notably, however,the EU has joined the US in calling on China to allow “complete access” for an independent investigation into the origins of Covid-19, which backs it on one particular --and contentious-- front. So we shall have to watch the G7 for further developments.\nMeanwhile, if anyone is thinking that curtains are coming down from only one side of a potential East-West divide,China yesterday passed a new law to push back against foreign sanctions. Legal countermeasures now available to it include \"refusal to issue visas, denial of entry, deportation... and sealing, seizing, andfreezing property of individuals or businesses that adhere to foreign sanctions against Chinese businesses or officials.\" In short, a Western bank or firmmustcomply with US sanctions or lose access to the US market – but now that bank or firm operating in China, and/or its employees, can be legally punished for doing so. This can even apply to family members, and legal experts say perhaps also to think-tanks or journalists, or those on social media, who directly or indirectly advocate for sanctions.\nWe may not see the trigger pulled on that law immediately, but it shows just how much potential decoupling is being stored up ahead.And such decoupling is both very inflationary in some places, who will see supply shift back to them before they are ready, and very deflationary in others, who will see excess supply and no demand.The markets and central banks don’t want to see this geopolitical truth any more than they do the risk that inflation might be anything less than “transitory”.\nWhich brings me back to the opening riddle.\nHow many people were coming from St Ives? It looks like it takes math to work out: and do you include all the wives, and animals, and the man? However, the most common answer is: one -only the narrator was GOING to St Ives, and the others were coming FROM it.Sometimes the simplest answer is right there in front of our faces - but we like to try and hide it with math, cod-philosophy, and “because markets”.\nHappy Friday!","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":188294764,"gmtCreate":1623443673558,"gmtModify":1704203794420,"author":{"id":"3578535572025884","authorId":"3578535572025884","name":"MemeTrader","avatar":"https://static.tigerbbs.com/cdd6f948b4e50b4e4707503cb7d7917a","vip":1,"crmLevel":2,"crmLevelSwitch":0,"authorIdStr":"3578535572025884","idStr":"3578535572025884"},"htmlText":"Great! Please like and comment. Thanks!","listText":"Great! Please like and comment. Thanks!","text":"Great! Please like and comment. Thanks!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/188294764","repostId":1145537442,"repostType":4,"repost":{"id":"1145537442","kind":"news","pubTimestamp":1623419872,"share":"https://ttm.financial/m/news/1145537442?lang=&edition=fundamental","pubTime":"2021-06-11 21:57","market":"us","language":"en","title":"\"As I Was Going To St Ives\"... Why Today's G7 Meeting Is Important","url":"https://stock-news.laohu8.com/highlight/detail?id=1145537442","media":"zerohedge","summary":"As I was going to St Ives...\n\n“As I was going to St. Ives, I met a man with(G)\n 7 wives; Each wife h","content":"As I was going to St Ives...\n<blockquote>\n “As I was going to St. Ives, I met a man with(G)\n 7 wives; Each wife had(G)\n 7 sacks; Each sack had(G)\n 7 cats; Each cat had(G)\n 7 kits; Kits, cats, sacks, and wives, How many were there going to St. Ives?”\n</blockquote>\nThis old English riddle is appropriate today givenG7 leaders’ (and wives, sacks, cats, and kits) are allinSt Ives, Cornwall – and traffic is murder as a result. Don’t even think about trying to get a cream tea there.\nThe multiplicative element of the riddle also seems appropriate given inflation keeps running hot – and the market keeps saying not.Yesterday’s US CPI report surprised to the upside, with headline inflation up 0.6% m/m and 5.0% y/y, while even core CPI was up 0.7% m/m and 3.8% y/y. “Sic transit(ory) in incremento pretiorum mundi,”said the US Treasury market, with10-year yields spiking 5bp to 1.53% - and then collapsing back to 1.43% againregardless. The riddle contained in *that* is perhaps answered by short-covering, and the market seeing this surge as still a re-opening related supply shock (used car prices, etc., etc.) with no wage response looming, and so it will end up as destructive of demand in the end. Moreover, the surge in US demand weareclearly seeing, until current stimulus runs out in a few months, and the ever-present monthly Fed QE largesse, is seeing exporters to the US make serious hay, and their FX reserve levels surge in tandem. Those dollars have to go somewhere other than meme-stonks and rude cryptos: welcome to the Treasury market!\nThat said, there might be more stimulus ahead than thought. Swing senator Manchin, and nine others, have proposed a newcompromise infrastructure fiscal package of $1.0 trillion over 5 years, with no tax hikes. It’s not the $4 trillion first floated over 10 years, but it’s hardly chopped liver at $200bn a year with no off-setting tax hikes – that is around 1% of US GDP alone. Might this move the Treasury needle, or will it be soothed at the climb-down and presumption that even if this happens, none of it will be Made in America, as promised?\nMeanwhile, back to the G7 and entourage. This is an important meeting:there is the 15% tax deal, and opt-outs; a global vaccine plan; the background chill over Northern Ireland and chilled meats; and some commentators see this as US President Biden’s last chance to get Canada and the EU to agree to side with him in what he calls ‘a struggle between democracies and autocracies’, which has the smell of Potsdam and Yalta to it. So, weighty matters.\nThen again, this G7 are no FDR, Churchill, and Stalin. We have Biden, with his Cold War vision; Suga of Japan, ramping up defence spending “dramatically” with a more muscular foreign policy; Moon of South Korea, traditionally more cautious, but edging closer to the US in some key areas; Morrison of Australia, giving Cold War/Churchillian speeches; and Modi of India, via Zoom, clearly leaning US, but obviously focused on Covid-19. But it also means renowned geostrategist Trudeau of Canada; “Sausage wars” Johnson of the UK; just-slapped-in-the-face Macron of France, where a recent poll shows more than half of voters think their political system is “broken”; Draghi of Italy, seen by markets as his country’s last hope, so with his hands already full; and Merkel of obstinately non-geopolitical Germany,today celebrating a test-run of gas through the Nord Stream 2 gas pipeline, and continuing to back doing as much business as possible with China. As such, we should temper expectations:not so much Potsdam and storms in a tea pot?\nYet the suggestion is that if the EU cannot muster enthusiasm to back the US and ‘democracies vs. autocracies’ now, they never will; and while US-EU relations will not then fall to the floor, as under the Trump administration, there will also be a low effective ceiling going forwards – which will matter hugely on many fronts over time. There are many ways to define this Atlantic drift, but perhaps the simplest way is that the US thinks ‘freedom isn’t free’, while the EU clings to the view that freedom is both free and free-trade. Notably, however,the EU has joined the US in calling on China to allow “complete access” for an independent investigation into the origins of Covid-19, which backs it on one particular --and contentious-- front. So we shall have to watch the G7 for further developments.\nMeanwhile, if anyone is thinking that curtains are coming down from only one side of a potential East-West divide,China yesterday passed a new law to push back against foreign sanctions. Legal countermeasures now available to it include \"refusal to issue visas, denial of entry, deportation... and sealing, seizing, andfreezing property of individuals or businesses that adhere to foreign sanctions against Chinese businesses or officials.\" In short, a Western bank or firmmustcomply with US sanctions or lose access to the US market – but now that bank or firm operating in China, and/or its employees, can be legally punished for doing so. This can even apply to family members, and legal experts say perhaps also to think-tanks or journalists, or those on social media, who directly or indirectly advocate for sanctions.\nWe may not see the trigger pulled on that law immediately, but it shows just how much potential decoupling is being stored up ahead.And such decoupling is both very inflationary in some places, who will see supply shift back to them before they are ready, and very deflationary in others, who will see excess supply and no demand.The markets and central banks don’t want to see this geopolitical truth any more than they do the risk that inflation might be anything less than “transitory”.\nWhich brings me back to the opening riddle.\nHow many people were coming from St Ives? It looks like it takes math to work out: and do you include all the wives, and animals, and the man? However, the most common answer is: one -only the narrator was GOING to St Ives, and the others were coming FROM it.Sometimes the simplest answer is right there in front of our faces - but we like to try and hide it with math, cod-philosophy, and “because markets”.\nHappy Friday!","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>\"As I Was Going To St Ives\"... Why Today's G7 Meeting Is Important</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n\"As I Was Going To St Ives\"... Why Today's G7 Meeting Is Important\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-11 21:57 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.zerohedge.com/markets/i-was-going-st-ives-why-todays-g7-meeting-important?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29>zerohedge</a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\nAs I was going to St Ives...\n\n“As I was going to St. Ives, I met a man with(G)\n 7 wives; Each wife had(G)\n 7 sacks; Each sack had(G)\n 7 cats; Each cat had(G)\n 7 kits; Kits, cats, sacks, and wives, How...\n\n<a href=\"https://www.zerohedge.com/markets/i-was-going-st-ives-why-todays-g7-meeting-important?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".DJI":"道琼斯",".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index","SPY":"标普500ETF"},"source_url":"https://www.zerohedge.com/markets/i-was-going-st-ives-why-todays-g7-meeting-important?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1145537442","content_text":"As I was going to St Ives...\n\n“As I was going to St. Ives, I met a man with(G)\n 7 wives; Each wife had(G)\n 7 sacks; Each sack had(G)\n 7 cats; Each cat had(G)\n 7 kits; Kits, cats, sacks, and wives, How many were there going to St. Ives?”\n\nThis old English riddle is appropriate today givenG7 leaders’ (and wives, sacks, cats, and kits) are allinSt Ives, Cornwall – and traffic is murder as a result. Don’t even think about trying to get a cream tea there.\nThe multiplicative element of the riddle also seems appropriate given inflation keeps running hot – and the market keeps saying not.Yesterday’s US CPI report surprised to the upside, with headline inflation up 0.6% m/m and 5.0% y/y, while even core CPI was up 0.7% m/m and 3.8% y/y. “Sic transit(ory) in incremento pretiorum mundi,”said the US Treasury market, with10-year yields spiking 5bp to 1.53% - and then collapsing back to 1.43% againregardless. The riddle contained in *that* is perhaps answered by short-covering, and the market seeing this surge as still a re-opening related supply shock (used car prices, etc., etc.) with no wage response looming, and so it will end up as destructive of demand in the end. Moreover, the surge in US demand weareclearly seeing, until current stimulus runs out in a few months, and the ever-present monthly Fed QE largesse, is seeing exporters to the US make serious hay, and their FX reserve levels surge in tandem. Those dollars have to go somewhere other than meme-stonks and rude cryptos: welcome to the Treasury market!\nThat said, there might be more stimulus ahead than thought. Swing senator Manchin, and nine others, have proposed a newcompromise infrastructure fiscal package of $1.0 trillion over 5 years, with no tax hikes. It’s not the $4 trillion first floated over 10 years, but it’s hardly chopped liver at $200bn a year with no off-setting tax hikes – that is around 1% of US GDP alone. Might this move the Treasury needle, or will it be soothed at the climb-down and presumption that even if this happens, none of it will be Made in America, as promised?\nMeanwhile, back to the G7 and entourage. This is an important meeting:there is the 15% tax deal, and opt-outs; a global vaccine plan; the background chill over Northern Ireland and chilled meats; and some commentators see this as US President Biden’s last chance to get Canada and the EU to agree to side with him in what he calls ‘a struggle between democracies and autocracies’, which has the smell of Potsdam and Yalta to it. So, weighty matters.\nThen again, this G7 are no FDR, Churchill, and Stalin. We have Biden, with his Cold War vision; Suga of Japan, ramping up defence spending “dramatically” with a more muscular foreign policy; Moon of South Korea, traditionally more cautious, but edging closer to the US in some key areas; Morrison of Australia, giving Cold War/Churchillian speeches; and Modi of India, via Zoom, clearly leaning US, but obviously focused on Covid-19. But it also means renowned geostrategist Trudeau of Canada; “Sausage wars” Johnson of the UK; just-slapped-in-the-face Macron of France, where a recent poll shows more than half of voters think their political system is “broken”; Draghi of Italy, seen by markets as his country’s last hope, so with his hands already full; and Merkel of obstinately non-geopolitical Germany,today celebrating a test-run of gas through the Nord Stream 2 gas pipeline, and continuing to back doing as much business as possible with China. As such, we should temper expectations:not so much Potsdam and storms in a tea pot?\nYet the suggestion is that if the EU cannot muster enthusiasm to back the US and ‘democracies vs. autocracies’ now, they never will; and while US-EU relations will not then fall to the floor, as under the Trump administration, there will also be a low effective ceiling going forwards – which will matter hugely on many fronts over time. There are many ways to define this Atlantic drift, but perhaps the simplest way is that the US thinks ‘freedom isn’t free’, while the EU clings to the view that freedom is both free and free-trade. Notably, however,the EU has joined the US in calling on China to allow “complete access” for an independent investigation into the origins of Covid-19, which backs it on one particular --and contentious-- front. So we shall have to watch the G7 for further developments.\nMeanwhile, if anyone is thinking that curtains are coming down from only one side of a potential East-West divide,China yesterday passed a new law to push back against foreign sanctions. Legal countermeasures now available to it include \"refusal to issue visas, denial of entry, deportation... and sealing, seizing, andfreezing property of individuals or businesses that adhere to foreign sanctions against Chinese businesses or officials.\" In short, a Western bank or firmmustcomply with US sanctions or lose access to the US market – but now that bank or firm operating in China, and/or its employees, can be legally punished for doing so. This can even apply to family members, and legal experts say perhaps also to think-tanks or journalists, or those on social media, who directly or indirectly advocate for sanctions.\nWe may not see the trigger pulled on that law immediately, but it shows just how much potential decoupling is being stored up ahead.And such decoupling is both very inflationary in some places, who will see supply shift back to them before they are ready, and very deflationary in others, who will see excess supply and no demand.The markets and central banks don’t want to see this geopolitical truth any more than they do the risk that inflation might be anything less than “transitory”.\nWhich brings me back to the opening riddle.\nHow many people were coming from St Ives? It looks like it takes math to work out: and do you include all the wives, and animals, and the man? However, the most common answer is: one -only the narrator was GOING to St Ives, and the others were coming FROM it.Sometimes the simplest answer is right there in front of our faces - but we like to try and hide it with math, cod-philosophy, and “because markets”.\nHappy Friday!","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":4696674,"gmtCreate":1623449844620,"gmtModify":1663228514333,"authorId":3581510438154815,"author":{"id":3581510438154815,"idStr":"3581510438154815","authorId":3581510438154815,"name":"QueenLT","avatar":"https://static.tigerbbs.com/4a3dfe6ddc0785223dd5b0574909d564","vip":1,"crmLevel":6,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":188294764,"type":1,"supId":0,"prevId":0,"content":"hi","text":"hi","html":"hi"}],"langContent":"EN"},{"id":188647987,"gmtCreate":1623436760849,"gmtModify":1704203758450,"author":{"id":"3570598542159923","authorId":"3570598542159923","name":"ShawnKoh1","avatar":"https://static.tigerbbs.com/0045c4894f8a2755b17a9e8518df4d5e","vip":1,"crmLevel":5,"crmLevelSwitch":0,"authorIdStr":"3570598542159923","idStr":"3570598542159923"},"htmlText":"Please like and comment","listText":"Please like and comment","text":"Please like and comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/188647987","repostId":1145537442,"repostType":4,"repost":{"id":"1145537442","kind":"news","pubTimestamp":1623419872,"share":"https://ttm.financial/m/news/1145537442?lang=&edition=fundamental","pubTime":"2021-06-11 21:57","market":"us","language":"en","title":"\"As I Was Going To St Ives\"... Why Today's G7 Meeting Is Important","url":"https://stock-news.laohu8.com/highlight/detail?id=1145537442","media":"zerohedge","summary":"As I was going to St Ives...\n\n“As I was going to St. Ives, I met a man with(G)\n 7 wives; Each wife h","content":"As I was going to St Ives...\n<blockquote>\n “As I was going to St. Ives, I met a man with(G)\n 7 wives; Each wife had(G)\n 7 sacks; Each sack had(G)\n 7 cats; Each cat had(G)\n 7 kits; Kits, cats, sacks, and wives, How many were there going to St. Ives?”\n</blockquote>\nThis old English riddle is appropriate today givenG7 leaders’ (and wives, sacks, cats, and kits) are allinSt Ives, Cornwall – and traffic is murder as a result. Don’t even think about trying to get a cream tea there.\nThe multiplicative element of the riddle also seems appropriate given inflation keeps running hot – and the market keeps saying not.Yesterday’s US CPI report surprised to the upside, with headline inflation up 0.6% m/m and 5.0% y/y, while even core CPI was up 0.7% m/m and 3.8% y/y. “Sic transit(ory) in incremento pretiorum mundi,”said the US Treasury market, with10-year yields spiking 5bp to 1.53% - and then collapsing back to 1.43% againregardless. The riddle contained in *that* is perhaps answered by short-covering, and the market seeing this surge as still a re-opening related supply shock (used car prices, etc., etc.) with no wage response looming, and so it will end up as destructive of demand in the end. Moreover, the surge in US demand weareclearly seeing, until current stimulus runs out in a few months, and the ever-present monthly Fed QE largesse, is seeing exporters to the US make serious hay, and their FX reserve levels surge in tandem. Those dollars have to go somewhere other than meme-stonks and rude cryptos: welcome to the Treasury market!\nThat said, there might be more stimulus ahead than thought. Swing senator Manchin, and nine others, have proposed a newcompromise infrastructure fiscal package of $1.0 trillion over 5 years, with no tax hikes. It’s not the $4 trillion first floated over 10 years, but it’s hardly chopped liver at $200bn a year with no off-setting tax hikes – that is around 1% of US GDP alone. Might this move the Treasury needle, or will it be soothed at the climb-down and presumption that even if this happens, none of it will be Made in America, as promised?\nMeanwhile, back to the G7 and entourage. This is an important meeting:there is the 15% tax deal, and opt-outs; a global vaccine plan; the background chill over Northern Ireland and chilled meats; and some commentators see this as US President Biden’s last chance to get Canada and the EU to agree to side with him in what he calls ‘a struggle between democracies and autocracies’, which has the smell of Potsdam and Yalta to it. So, weighty matters.\nThen again, this G7 are no FDR, Churchill, and Stalin. We have Biden, with his Cold War vision; Suga of Japan, ramping up defence spending “dramatically” with a more muscular foreign policy; Moon of South Korea, traditionally more cautious, but edging closer to the US in some key areas; Morrison of Australia, giving Cold War/Churchillian speeches; and Modi of India, via Zoom, clearly leaning US, but obviously focused on Covid-19. But it also means renowned geostrategist Trudeau of Canada; “Sausage wars” Johnson of the UK; just-slapped-in-the-face Macron of France, where a recent poll shows more than half of voters think their political system is “broken”; Draghi of Italy, seen by markets as his country’s last hope, so with his hands already full; and Merkel of obstinately non-geopolitical Germany,today celebrating a test-run of gas through the Nord Stream 2 gas pipeline, and continuing to back doing as much business as possible with China. As such, we should temper expectations:not so much Potsdam and storms in a tea pot?\nYet the suggestion is that if the EU cannot muster enthusiasm to back the US and ‘democracies vs. autocracies’ now, they never will; and while US-EU relations will not then fall to the floor, as under the Trump administration, there will also be a low effective ceiling going forwards – which will matter hugely on many fronts over time. There are many ways to define this Atlantic drift, but perhaps the simplest way is that the US thinks ‘freedom isn’t free’, while the EU clings to the view that freedom is both free and free-trade. Notably, however,the EU has joined the US in calling on China to allow “complete access” for an independent investigation into the origins of Covid-19, which backs it on one particular --and contentious-- front. So we shall have to watch the G7 for further developments.\nMeanwhile, if anyone is thinking that curtains are coming down from only one side of a potential East-West divide,China yesterday passed a new law to push back against foreign sanctions. Legal countermeasures now available to it include \"refusal to issue visas, denial of entry, deportation... and sealing, seizing, andfreezing property of individuals or businesses that adhere to foreign sanctions against Chinese businesses or officials.\" In short, a Western bank or firmmustcomply with US sanctions or lose access to the US market – but now that bank or firm operating in China, and/or its employees, can be legally punished for doing so. This can even apply to family members, and legal experts say perhaps also to think-tanks or journalists, or those on social media, who directly or indirectly advocate for sanctions.\nWe may not see the trigger pulled on that law immediately, but it shows just how much potential decoupling is being stored up ahead.And such decoupling is both very inflationary in some places, who will see supply shift back to them before they are ready, and very deflationary in others, who will see excess supply and no demand.The markets and central banks don’t want to see this geopolitical truth any more than they do the risk that inflation might be anything less than “transitory”.\nWhich brings me back to the opening riddle.\nHow many people were coming from St Ives? It looks like it takes math to work out: and do you include all the wives, and animals, and the man? However, the most common answer is: one -only the narrator was GOING to St Ives, and the others were coming FROM it.Sometimes the simplest answer is right there in front of our faces - but we like to try and hide it with math, cod-philosophy, and “because markets”.\nHappy Friday!","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>\"As I Was Going To St Ives\"... Why Today's G7 Meeting Is Important</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n\"As I Was Going To St Ives\"... Why Today's G7 Meeting Is Important\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-11 21:57 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.zerohedge.com/markets/i-was-going-st-ives-why-todays-g7-meeting-important?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29>zerohedge</a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\nAs I was going to St Ives...\n\n“As I was going to St. Ives, I met a man with(G)\n 7 wives; Each wife had(G)\n 7 sacks; Each sack had(G)\n 7 cats; Each cat had(G)\n 7 kits; Kits, cats, sacks, and wives, How...\n\n<a href=\"https://www.zerohedge.com/markets/i-was-going-st-ives-why-todays-g7-meeting-important?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".DJI":"道琼斯",".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index","SPY":"标普500ETF"},"source_url":"https://www.zerohedge.com/markets/i-was-going-st-ives-why-todays-g7-meeting-important?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1145537442","content_text":"As I was going to St Ives...\n\n“As I was going to St. Ives, I met a man with(G)\n 7 wives; Each wife had(G)\n 7 sacks; Each sack had(G)\n 7 cats; Each cat had(G)\n 7 kits; Kits, cats, sacks, and wives, How many were there going to St. Ives?”\n\nThis old English riddle is appropriate today givenG7 leaders’ (and wives, sacks, cats, and kits) are allinSt Ives, Cornwall – and traffic is murder as a result. Don’t even think about trying to get a cream tea there.\nThe multiplicative element of the riddle also seems appropriate given inflation keeps running hot – and the market keeps saying not.Yesterday’s US CPI report surprised to the upside, with headline inflation up 0.6% m/m and 5.0% y/y, while even core CPI was up 0.7% m/m and 3.8% y/y. “Sic transit(ory) in incremento pretiorum mundi,”said the US Treasury market, with10-year yields spiking 5bp to 1.53% - and then collapsing back to 1.43% againregardless. The riddle contained in *that* is perhaps answered by short-covering, and the market seeing this surge as still a re-opening related supply shock (used car prices, etc., etc.) with no wage response looming, and so it will end up as destructive of demand in the end. Moreover, the surge in US demand weareclearly seeing, until current stimulus runs out in a few months, and the ever-present monthly Fed QE largesse, is seeing exporters to the US make serious hay, and their FX reserve levels surge in tandem. Those dollars have to go somewhere other than meme-stonks and rude cryptos: welcome to the Treasury market!\nThat said, there might be more stimulus ahead than thought. Swing senator Manchin, and nine others, have proposed a newcompromise infrastructure fiscal package of $1.0 trillion over 5 years, with no tax hikes. It’s not the $4 trillion first floated over 10 years, but it’s hardly chopped liver at $200bn a year with no off-setting tax hikes – that is around 1% of US GDP alone. Might this move the Treasury needle, or will it be soothed at the climb-down and presumption that even if this happens, none of it will be Made in America, as promised?\nMeanwhile, back to the G7 and entourage. This is an important meeting:there is the 15% tax deal, and opt-outs; a global vaccine plan; the background chill over Northern Ireland and chilled meats; and some commentators see this as US President Biden’s last chance to get Canada and the EU to agree to side with him in what he calls ‘a struggle between democracies and autocracies’, which has the smell of Potsdam and Yalta to it. So, weighty matters.\nThen again, this G7 are no FDR, Churchill, and Stalin. We have Biden, with his Cold War vision; Suga of Japan, ramping up defence spending “dramatically” with a more muscular foreign policy; Moon of South Korea, traditionally more cautious, but edging closer to the US in some key areas; Morrison of Australia, giving Cold War/Churchillian speeches; and Modi of India, via Zoom, clearly leaning US, but obviously focused on Covid-19. But it also means renowned geostrategist Trudeau of Canada; “Sausage wars” Johnson of the UK; just-slapped-in-the-face Macron of France, where a recent poll shows more than half of voters think their political system is “broken”; Draghi of Italy, seen by markets as his country’s last hope, so with his hands already full; and Merkel of obstinately non-geopolitical Germany,today celebrating a test-run of gas through the Nord Stream 2 gas pipeline, and continuing to back doing as much business as possible with China. As such, we should temper expectations:not so much Potsdam and storms in a tea pot?\nYet the suggestion is that if the EU cannot muster enthusiasm to back the US and ‘democracies vs. autocracies’ now, they never will; and while US-EU relations will not then fall to the floor, as under the Trump administration, there will also be a low effective ceiling going forwards – which will matter hugely on many fronts over time. There are many ways to define this Atlantic drift, but perhaps the simplest way is that the US thinks ‘freedom isn’t free’, while the EU clings to the view that freedom is both free and free-trade. Notably, however,the EU has joined the US in calling on China to allow “complete access” for an independent investigation into the origins of Covid-19, which backs it on one particular --and contentious-- front. So we shall have to watch the G7 for further developments.\nMeanwhile, if anyone is thinking that curtains are coming down from only one side of a potential East-West divide,China yesterday passed a new law to push back against foreign sanctions. Legal countermeasures now available to it include \"refusal to issue visas, denial of entry, deportation... and sealing, seizing, andfreezing property of individuals or businesses that adhere to foreign sanctions against Chinese businesses or officials.\" In short, a Western bank or firmmustcomply with US sanctions or lose access to the US market – but now that bank or firm operating in China, and/or its employees, can be legally punished for doing so. This can even apply to family members, and legal experts say perhaps also to think-tanks or journalists, or those on social media, who directly or indirectly advocate for sanctions.\nWe may not see the trigger pulled on that law immediately, but it shows just how much potential decoupling is being stored up ahead.And such decoupling is both very inflationary in some places, who will see supply shift back to them before they are ready, and very deflationary in others, who will see excess supply and no demand.The markets and central banks don’t want to see this geopolitical truth any more than they do the risk that inflation might be anything less than “transitory”.\nWhich brings me back to the opening riddle.\nHow many people were coming from St Ives? It looks like it takes math to work out: and do you include all the wives, and animals, and the man? However, the most common answer is: one -only the narrator was GOING to St Ives, and the others were coming FROM it.Sometimes the simplest answer is right there in front of our faces - but we like to try and hide it with math, cod-philosophy, and “because markets”.\nHappy Friday!","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":4696676,"gmtCreate":1623449854221,"gmtModify":1663228514444,"authorId":3581510438154815,"author":{"id":3581510438154815,"idStr":"3581510438154815","authorId":3581510438154815,"name":"QueenLT","avatar":"https://static.tigerbbs.com/4a3dfe6ddc0785223dd5b0574909d564","vip":1,"crmLevel":6,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":188647987,"type":1,"supId":0,"prevId":0,"content":"hi","text":"hi","html":"hi"}],"langContent":"EN"},{"id":188177150,"gmtCreate":1623426344170,"gmtModify":1704203501575,"author":{"id":"3582623610923489","authorId":"3582623610923489","name":"Jcbduck","avatar":"https://static.tigerbbs.com/76b312b4fd97df52da46b59506df7179","vip":1,"hat":"https://static.tigerbbs.com/b0a2963eb37c60c5d6d4a8dbcd266952","crmLevel":5,"crmLevelSwitch":1,"authorIdStr":"3582623610923489","idStr":"3582623610923489"},"htmlText":"Good","listText":"Good","text":"Good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/188177150","repostId":1145537442,"repostType":4,"repost":{"id":"1145537442","kind":"news","pubTimestamp":1623419872,"share":"https://ttm.financial/m/news/1145537442?lang=&edition=fundamental","pubTime":"2021-06-11 21:57","market":"us","language":"en","title":"\"As I Was Going To St Ives\"... Why Today's G7 Meeting Is Important","url":"https://stock-news.laohu8.com/highlight/detail?id=1145537442","media":"zerohedge","summary":"As I was going to St Ives...\n\n“As I was going to St. Ives, I met a man with(G)\n 7 wives; Each wife h","content":"As I was going to St Ives...\n<blockquote>\n “As I was going to St. Ives, I met a man with(G)\n 7 wives; Each wife had(G)\n 7 sacks; Each sack had(G)\n 7 cats; Each cat had(G)\n 7 kits; Kits, cats, sacks, and wives, How many were there going to St. Ives?”\n</blockquote>\nThis old English riddle is appropriate today givenG7 leaders’ (and wives, sacks, cats, and kits) are allinSt Ives, Cornwall – and traffic is murder as a result. Don’t even think about trying to get a cream tea there.\nThe multiplicative element of the riddle also seems appropriate given inflation keeps running hot – and the market keeps saying not.Yesterday’s US CPI report surprised to the upside, with headline inflation up 0.6% m/m and 5.0% y/y, while even core CPI was up 0.7% m/m and 3.8% y/y. “Sic transit(ory) in incremento pretiorum mundi,”said the US Treasury market, with10-year yields spiking 5bp to 1.53% - and then collapsing back to 1.43% againregardless. The riddle contained in *that* is perhaps answered by short-covering, and the market seeing this surge as still a re-opening related supply shock (used car prices, etc., etc.) with no wage response looming, and so it will end up as destructive of demand in the end. Moreover, the surge in US demand weareclearly seeing, until current stimulus runs out in a few months, and the ever-present monthly Fed QE largesse, is seeing exporters to the US make serious hay, and their FX reserve levels surge in tandem. Those dollars have to go somewhere other than meme-stonks and rude cryptos: welcome to the Treasury market!\nThat said, there might be more stimulus ahead than thought. Swing senator Manchin, and nine others, have proposed a newcompromise infrastructure fiscal package of $1.0 trillion over 5 years, with no tax hikes. It’s not the $4 trillion first floated over 10 years, but it’s hardly chopped liver at $200bn a year with no off-setting tax hikes – that is around 1% of US GDP alone. Might this move the Treasury needle, or will it be soothed at the climb-down and presumption that even if this happens, none of it will be Made in America, as promised?\nMeanwhile, back to the G7 and entourage. This is an important meeting:there is the 15% tax deal, and opt-outs; a global vaccine plan; the background chill over Northern Ireland and chilled meats; and some commentators see this as US President Biden’s last chance to get Canada and the EU to agree to side with him in what he calls ‘a struggle between democracies and autocracies’, which has the smell of Potsdam and Yalta to it. So, weighty matters.\nThen again, this G7 are no FDR, Churchill, and Stalin. We have Biden, with his Cold War vision; Suga of Japan, ramping up defence spending “dramatically” with a more muscular foreign policy; Moon of South Korea, traditionally more cautious, but edging closer to the US in some key areas; Morrison of Australia, giving Cold War/Churchillian speeches; and Modi of India, via Zoom, clearly leaning US, but obviously focused on Covid-19. But it also means renowned geostrategist Trudeau of Canada; “Sausage wars” Johnson of the UK; just-slapped-in-the-face Macron of France, where a recent poll shows more than half of voters think their political system is “broken”; Draghi of Italy, seen by markets as his country’s last hope, so with his hands already full; and Merkel of obstinately non-geopolitical Germany,today celebrating a test-run of gas through the Nord Stream 2 gas pipeline, and continuing to back doing as much business as possible with China. As such, we should temper expectations:not so much Potsdam and storms in a tea pot?\nYet the suggestion is that if the EU cannot muster enthusiasm to back the US and ‘democracies vs. autocracies’ now, they never will; and while US-EU relations will not then fall to the floor, as under the Trump administration, there will also be a low effective ceiling going forwards – which will matter hugely on many fronts over time. There are many ways to define this Atlantic drift, but perhaps the simplest way is that the US thinks ‘freedom isn’t free’, while the EU clings to the view that freedom is both free and free-trade. Notably, however,the EU has joined the US in calling on China to allow “complete access” for an independent investigation into the origins of Covid-19, which backs it on one particular --and contentious-- front. So we shall have to watch the G7 for further developments.\nMeanwhile, if anyone is thinking that curtains are coming down from only one side of a potential East-West divide,China yesterday passed a new law to push back against foreign sanctions. Legal countermeasures now available to it include \"refusal to issue visas, denial of entry, deportation... and sealing, seizing, andfreezing property of individuals or businesses that adhere to foreign sanctions against Chinese businesses or officials.\" In short, a Western bank or firmmustcomply with US sanctions or lose access to the US market – but now that bank or firm operating in China, and/or its employees, can be legally punished for doing so. This can even apply to family members, and legal experts say perhaps also to think-tanks or journalists, or those on social media, who directly or indirectly advocate for sanctions.\nWe may not see the trigger pulled on that law immediately, but it shows just how much potential decoupling is being stored up ahead.And such decoupling is both very inflationary in some places, who will see supply shift back to them before they are ready, and very deflationary in others, who will see excess supply and no demand.The markets and central banks don’t want to see this geopolitical truth any more than they do the risk that inflation might be anything less than “transitory”.\nWhich brings me back to the opening riddle.\nHow many people were coming from St Ives? It looks like it takes math to work out: and do you include all the wives, and animals, and the man? However, the most common answer is: one -only the narrator was GOING to St Ives, and the others were coming FROM it.Sometimes the simplest answer is right there in front of our faces - but we like to try and hide it with math, cod-philosophy, and “because markets”.\nHappy Friday!","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>\"As I Was Going To St Ives\"... Why Today's G7 Meeting Is Important</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n\"As I Was Going To St Ives\"... Why Today's G7 Meeting Is Important\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-11 21:57 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.zerohedge.com/markets/i-was-going-st-ives-why-todays-g7-meeting-important?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29>zerohedge</a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\nAs I was going to St Ives...\n\n“As I was going to St. Ives, I met a man with(G)\n 7 wives; Each wife had(G)\n 7 sacks; Each sack had(G)\n 7 cats; Each cat had(G)\n 7 kits; Kits, cats, sacks, and wives, How...\n\n<a href=\"https://www.zerohedge.com/markets/i-was-going-st-ives-why-todays-g7-meeting-important?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".DJI":"道琼斯",".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index","SPY":"标普500ETF"},"source_url":"https://www.zerohedge.com/markets/i-was-going-st-ives-why-todays-g7-meeting-important?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1145537442","content_text":"As I was going to St Ives...\n\n“As I was going to St. Ives, I met a man with(G)\n 7 wives; Each wife had(G)\n 7 sacks; Each sack had(G)\n 7 cats; Each cat had(G)\n 7 kits; Kits, cats, sacks, and wives, How many were there going to St. Ives?”\n\nThis old English riddle is appropriate today givenG7 leaders’ (and wives, sacks, cats, and kits) are allinSt Ives, Cornwall – and traffic is murder as a result. Don’t even think about trying to get a cream tea there.\nThe multiplicative element of the riddle also seems appropriate given inflation keeps running hot – and the market keeps saying not.Yesterday’s US CPI report surprised to the upside, with headline inflation up 0.6% m/m and 5.0% y/y, while even core CPI was up 0.7% m/m and 3.8% y/y. “Sic transit(ory) in incremento pretiorum mundi,”said the US Treasury market, with10-year yields spiking 5bp to 1.53% - and then collapsing back to 1.43% againregardless. The riddle contained in *that* is perhaps answered by short-covering, and the market seeing this surge as still a re-opening related supply shock (used car prices, etc., etc.) with no wage response looming, and so it will end up as destructive of demand in the end. Moreover, the surge in US demand weareclearly seeing, until current stimulus runs out in a few months, and the ever-present monthly Fed QE largesse, is seeing exporters to the US make serious hay, and their FX reserve levels surge in tandem. Those dollars have to go somewhere other than meme-stonks and rude cryptos: welcome to the Treasury market!\nThat said, there might be more stimulus ahead than thought. Swing senator Manchin, and nine others, have proposed a newcompromise infrastructure fiscal package of $1.0 trillion over 5 years, with no tax hikes. It’s not the $4 trillion first floated over 10 years, but it’s hardly chopped liver at $200bn a year with no off-setting tax hikes – that is around 1% of US GDP alone. Might this move the Treasury needle, or will it be soothed at the climb-down and presumption that even if this happens, none of it will be Made in America, as promised?\nMeanwhile, back to the G7 and entourage. This is an important meeting:there is the 15% tax deal, and opt-outs; a global vaccine plan; the background chill over Northern Ireland and chilled meats; and some commentators see this as US President Biden’s last chance to get Canada and the EU to agree to side with him in what he calls ‘a struggle between democracies and autocracies’, which has the smell of Potsdam and Yalta to it. So, weighty matters.\nThen again, this G7 are no FDR, Churchill, and Stalin. We have Biden, with his Cold War vision; Suga of Japan, ramping up defence spending “dramatically” with a more muscular foreign policy; Moon of South Korea, traditionally more cautious, but edging closer to the US in some key areas; Morrison of Australia, giving Cold War/Churchillian speeches; and Modi of India, via Zoom, clearly leaning US, but obviously focused on Covid-19. But it also means renowned geostrategist Trudeau of Canada; “Sausage wars” Johnson of the UK; just-slapped-in-the-face Macron of France, where a recent poll shows more than half of voters think their political system is “broken”; Draghi of Italy, seen by markets as his country’s last hope, so with his hands already full; and Merkel of obstinately non-geopolitical Germany,today celebrating a test-run of gas through the Nord Stream 2 gas pipeline, and continuing to back doing as much business as possible with China. As such, we should temper expectations:not so much Potsdam and storms in a tea pot?\nYet the suggestion is that if the EU cannot muster enthusiasm to back the US and ‘democracies vs. autocracies’ now, they never will; and while US-EU relations will not then fall to the floor, as under the Trump administration, there will also be a low effective ceiling going forwards – which will matter hugely on many fronts over time. There are many ways to define this Atlantic drift, but perhaps the simplest way is that the US thinks ‘freedom isn’t free’, while the EU clings to the view that freedom is both free and free-trade. Notably, however,the EU has joined the US in calling on China to allow “complete access” for an independent investigation into the origins of Covid-19, which backs it on one particular --and contentious-- front. So we shall have to watch the G7 for further developments.\nMeanwhile, if anyone is thinking that curtains are coming down from only one side of a potential East-West divide,China yesterday passed a new law to push back against foreign sanctions. Legal countermeasures now available to it include \"refusal to issue visas, denial of entry, deportation... and sealing, seizing, andfreezing property of individuals or businesses that adhere to foreign sanctions against Chinese businesses or officials.\" In short, a Western bank or firmmustcomply with US sanctions or lose access to the US market – but now that bank or firm operating in China, and/or its employees, can be legally punished for doing so. This can even apply to family members, and legal experts say perhaps also to think-tanks or journalists, or those on social media, who directly or indirectly advocate for sanctions.\nWe may not see the trigger pulled on that law immediately, but it shows just how much potential decoupling is being stored up ahead.And such decoupling is both very inflationary in some places, who will see supply shift back to them before they are ready, and very deflationary in others, who will see excess supply and no demand.The markets and central banks don’t want to see this geopolitical truth any more than they do the risk that inflation might be anything less than “transitory”.\nWhich brings me back to the opening riddle.\nHow many people were coming from St Ives? It looks like it takes math to work out: and do you include all the wives, and animals, and the man? However, the most common answer is: one -only the narrator was GOING to St Ives, and the others were coming FROM it.Sometimes the simplest answer is right there in front of our faces - but we like to try and hide it with math, cod-philosophy, and “because markets”.\nHappy Friday!","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":4694780,"gmtCreate":1623430583195,"gmtModify":1663228506037,"authorId":3554213821224025,"author":{"id":3554213821224025,"idStr":"3554213821224025","authorId":3554213821224025,"name":"WMIING","avatar":"https://static.tigerbbs.com/39217f40d9dc4a9a15fac00f34f63d83","vip":1,"currentWearingBadge":{"badgeId":"972123088c9646f7b6091ae0662215be-3","templateUuid":"972123088c9646f7b6091ae0662215be","name":"Legendary Trader","description":"Total number of securities or futures transactions reached 300","bigImgUrl":"https://static.tigerbbs.com/656db16598a0b8f21429e10d6c1cb033","smallImgUrl":"https://static.tigerbbs.com/03f10910d4dd9234f9b5702a3342193a","grayImgUrl":"https://static.tigerbbs.com/0c767e35268feb729d50d3fa9a386c5a","redirectLinkEnabled":0,"hasAllocated":1,"isWearing":1,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2021.12.21","exceedPercentage":"93.45%","individualDisplayEnabled":0,"individualDisplaySort":0,"categoryType":1100},"crmLevel":5,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":188177150,"type":1,"supId":0,"prevId":0,"content":"Ok","text":"Ok","html":"Ok"},{"id":4694964,"gmtCreate":1623431111548,"gmtModify":1663228505739,"authorId":3569807654789153,"author":{"id":3569807654789153,"idStr":"3569807654789153","authorId":3569807654789153,"name":"Horngryz","avatar":"https://static.tigerbbs.com/c97e02620d57cf3c3449462d356cd6c0","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":188177150,"type":1,"supId":0,"prevId":0,"content":"ok","text":"ok","html":"ok"}],"langContent":"EN"},{"id":188160370,"gmtCreate":1623424445290,"gmtModify":1704203432682,"author":{"id":"3575333960287526","authorId":"3575333960287526","name":"WDnemo","avatar":"https://static.tigerbbs.com/2241a941fc1eb6cca28c7a714cba1571","vip":1,"crmLevel":8,"crmLevelSwitch":0,"authorIdStr":"3575333960287526","idStr":"3575333960287526"},"htmlText":"Just a group of wealthy nation trying to steer the world direction to their advantage","listText":"Just a group of wealthy nation trying to steer the world direction to their advantage","text":"Just a group of wealthy nation trying to steer the world direction to their advantage","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/188160370","repostId":1145537442,"repostType":4,"repost":{"id":"1145537442","kind":"news","pubTimestamp":1623419872,"share":"https://ttm.financial/m/news/1145537442?lang=&edition=fundamental","pubTime":"2021-06-11 21:57","market":"us","language":"en","title":"\"As I Was Going To St Ives\"... Why Today's G7 Meeting Is Important","url":"https://stock-news.laohu8.com/highlight/detail?id=1145537442","media":"zerohedge","summary":"As I was going to St Ives...\n\n“As I was going to St. Ives, I met a man with(G)\n 7 wives; Each wife h","content":"As I was going to St Ives...\n<blockquote>\n “As I was going to St. Ives, I met a man with(G)\n 7 wives; Each wife had(G)\n 7 sacks; Each sack had(G)\n 7 cats; Each cat had(G)\n 7 kits; Kits, cats, sacks, and wives, How many were there going to St. Ives?”\n</blockquote>\nThis old English riddle is appropriate today givenG7 leaders’ (and wives, sacks, cats, and kits) are allinSt Ives, Cornwall – and traffic is murder as a result. Don’t even think about trying to get a cream tea there.\nThe multiplicative element of the riddle also seems appropriate given inflation keeps running hot – and the market keeps saying not.Yesterday’s US CPI report surprised to the upside, with headline inflation up 0.6% m/m and 5.0% y/y, while even core CPI was up 0.7% m/m and 3.8% y/y. “Sic transit(ory) in incremento pretiorum mundi,”said the US Treasury market, with10-year yields spiking 5bp to 1.53% - and then collapsing back to 1.43% againregardless. The riddle contained in *that* is perhaps answered by short-covering, and the market seeing this surge as still a re-opening related supply shock (used car prices, etc., etc.) with no wage response looming, and so it will end up as destructive of demand in the end. Moreover, the surge in US demand weareclearly seeing, until current stimulus runs out in a few months, and the ever-present monthly Fed QE largesse, is seeing exporters to the US make serious hay, and their FX reserve levels surge in tandem. Those dollars have to go somewhere other than meme-stonks and rude cryptos: welcome to the Treasury market!\nThat said, there might be more stimulus ahead than thought. Swing senator Manchin, and nine others, have proposed a newcompromise infrastructure fiscal package of $1.0 trillion over 5 years, with no tax hikes. It’s not the $4 trillion first floated over 10 years, but it’s hardly chopped liver at $200bn a year with no off-setting tax hikes – that is around 1% of US GDP alone. Might this move the Treasury needle, or will it be soothed at the climb-down and presumption that even if this happens, none of it will be Made in America, as promised?\nMeanwhile, back to the G7 and entourage. This is an important meeting:there is the 15% tax deal, and opt-outs; a global vaccine plan; the background chill over Northern Ireland and chilled meats; and some commentators see this as US President Biden’s last chance to get Canada and the EU to agree to side with him in what he calls ‘a struggle between democracies and autocracies’, which has the smell of Potsdam and Yalta to it. So, weighty matters.\nThen again, this G7 are no FDR, Churchill, and Stalin. We have Biden, with his Cold War vision; Suga of Japan, ramping up defence spending “dramatically” with a more muscular foreign policy; Moon of South Korea, traditionally more cautious, but edging closer to the US in some key areas; Morrison of Australia, giving Cold War/Churchillian speeches; and Modi of India, via Zoom, clearly leaning US, but obviously focused on Covid-19. But it also means renowned geostrategist Trudeau of Canada; “Sausage wars” Johnson of the UK; just-slapped-in-the-face Macron of France, where a recent poll shows more than half of voters think their political system is “broken”; Draghi of Italy, seen by markets as his country’s last hope, so with his hands already full; and Merkel of obstinately non-geopolitical Germany,today celebrating a test-run of gas through the Nord Stream 2 gas pipeline, and continuing to back doing as much business as possible with China. As such, we should temper expectations:not so much Potsdam and storms in a tea pot?\nYet the suggestion is that if the EU cannot muster enthusiasm to back the US and ‘democracies vs. autocracies’ now, they never will; and while US-EU relations will not then fall to the floor, as under the Trump administration, there will also be a low effective ceiling going forwards – which will matter hugely on many fronts over time. There are many ways to define this Atlantic drift, but perhaps the simplest way is that the US thinks ‘freedom isn’t free’, while the EU clings to the view that freedom is both free and free-trade. Notably, however,the EU has joined the US in calling on China to allow “complete access” for an independent investigation into the origins of Covid-19, which backs it on one particular --and contentious-- front. So we shall have to watch the G7 for further developments.\nMeanwhile, if anyone is thinking that curtains are coming down from only one side of a potential East-West divide,China yesterday passed a new law to push back against foreign sanctions. Legal countermeasures now available to it include \"refusal to issue visas, denial of entry, deportation... and sealing, seizing, andfreezing property of individuals or businesses that adhere to foreign sanctions against Chinese businesses or officials.\" In short, a Western bank or firmmustcomply with US sanctions or lose access to the US market – but now that bank or firm operating in China, and/or its employees, can be legally punished for doing so. This can even apply to family members, and legal experts say perhaps also to think-tanks or journalists, or those on social media, who directly or indirectly advocate for sanctions.\nWe may not see the trigger pulled on that law immediately, but it shows just how much potential decoupling is being stored up ahead.And such decoupling is both very inflationary in some places, who will see supply shift back to them before they are ready, and very deflationary in others, who will see excess supply and no demand.The markets and central banks don’t want to see this geopolitical truth any more than they do the risk that inflation might be anything less than “transitory”.\nWhich brings me back to the opening riddle.\nHow many people were coming from St Ives? It looks like it takes math to work out: and do you include all the wives, and animals, and the man? However, the most common answer is: one -only the narrator was GOING to St Ives, and the others were coming FROM it.Sometimes the simplest answer is right there in front of our faces - but we like to try and hide it with math, cod-philosophy, and “because markets”.\nHappy Friday!","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>\"As I Was Going To St Ives\"... Why Today's G7 Meeting Is Important</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n\"As I Was Going To St Ives\"... Why Today's G7 Meeting Is Important\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-11 21:57 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.zerohedge.com/markets/i-was-going-st-ives-why-todays-g7-meeting-important?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29>zerohedge</a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\nAs I was going to St Ives...\n\n“As I was going to St. Ives, I met a man with(G)\n 7 wives; Each wife had(G)\n 7 sacks; Each sack had(G)\n 7 cats; Each cat had(G)\n 7 kits; Kits, cats, sacks, and wives, How...\n\n<a href=\"https://www.zerohedge.com/markets/i-was-going-st-ives-why-todays-g7-meeting-important?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".DJI":"道琼斯",".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index","SPY":"标普500ETF"},"source_url":"https://www.zerohedge.com/markets/i-was-going-st-ives-why-todays-g7-meeting-important?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1145537442","content_text":"As I was going to St Ives...\n\n“As I was going to St. Ives, I met a man with(G)\n 7 wives; Each wife had(G)\n 7 sacks; Each sack had(G)\n 7 cats; Each cat had(G)\n 7 kits; Kits, cats, sacks, and wives, How many were there going to St. Ives?”\n\nThis old English riddle is appropriate today givenG7 leaders’ (and wives, sacks, cats, and kits) are allinSt Ives, Cornwall – and traffic is murder as a result. Don’t even think about trying to get a cream tea there.\nThe multiplicative element of the riddle also seems appropriate given inflation keeps running hot – and the market keeps saying not.Yesterday’s US CPI report surprised to the upside, with headline inflation up 0.6% m/m and 5.0% y/y, while even core CPI was up 0.7% m/m and 3.8% y/y. “Sic transit(ory) in incremento pretiorum mundi,”said the US Treasury market, with10-year yields spiking 5bp to 1.53% - and then collapsing back to 1.43% againregardless. The riddle contained in *that* is perhaps answered by short-covering, and the market seeing this surge as still a re-opening related supply shock (used car prices, etc., etc.) with no wage response looming, and so it will end up as destructive of demand in the end. Moreover, the surge in US demand weareclearly seeing, until current stimulus runs out in a few months, and the ever-present monthly Fed QE largesse, is seeing exporters to the US make serious hay, and their FX reserve levels surge in tandem. Those dollars have to go somewhere other than meme-stonks and rude cryptos: welcome to the Treasury market!\nThat said, there might be more stimulus ahead than thought. Swing senator Manchin, and nine others, have proposed a newcompromise infrastructure fiscal package of $1.0 trillion over 5 years, with no tax hikes. It’s not the $4 trillion first floated over 10 years, but it’s hardly chopped liver at $200bn a year with no off-setting tax hikes – that is around 1% of US GDP alone. Might this move the Treasury needle, or will it be soothed at the climb-down and presumption that even if this happens, none of it will be Made in America, as promised?\nMeanwhile, back to the G7 and entourage. This is an important meeting:there is the 15% tax deal, and opt-outs; a global vaccine plan; the background chill over Northern Ireland and chilled meats; and some commentators see this as US President Biden’s last chance to get Canada and the EU to agree to side with him in what he calls ‘a struggle between democracies and autocracies’, which has the smell of Potsdam and Yalta to it. So, weighty matters.\nThen again, this G7 are no FDR, Churchill, and Stalin. We have Biden, with his Cold War vision; Suga of Japan, ramping up defence spending “dramatically” with a more muscular foreign policy; Moon of South Korea, traditionally more cautious, but edging closer to the US in some key areas; Morrison of Australia, giving Cold War/Churchillian speeches; and Modi of India, via Zoom, clearly leaning US, but obviously focused on Covid-19. But it also means renowned geostrategist Trudeau of Canada; “Sausage wars” Johnson of the UK; just-slapped-in-the-face Macron of France, where a recent poll shows more than half of voters think their political system is “broken”; Draghi of Italy, seen by markets as his country’s last hope, so with his hands already full; and Merkel of obstinately non-geopolitical Germany,today celebrating a test-run of gas through the Nord Stream 2 gas pipeline, and continuing to back doing as much business as possible with China. As such, we should temper expectations:not so much Potsdam and storms in a tea pot?\nYet the suggestion is that if the EU cannot muster enthusiasm to back the US and ‘democracies vs. autocracies’ now, they never will; and while US-EU relations will not then fall to the floor, as under the Trump administration, there will also be a low effective ceiling going forwards – which will matter hugely on many fronts over time. There are many ways to define this Atlantic drift, but perhaps the simplest way is that the US thinks ‘freedom isn’t free’, while the EU clings to the view that freedom is both free and free-trade. Notably, however,the EU has joined the US in calling on China to allow “complete access” for an independent investigation into the origins of Covid-19, which backs it on one particular --and contentious-- front. So we shall have to watch the G7 for further developments.\nMeanwhile, if anyone is thinking that curtains are coming down from only one side of a potential East-West divide,China yesterday passed a new law to push back against foreign sanctions. Legal countermeasures now available to it include \"refusal to issue visas, denial of entry, deportation... and sealing, seizing, andfreezing property of individuals or businesses that adhere to foreign sanctions against Chinese businesses or officials.\" In short, a Western bank or firmmustcomply with US sanctions or lose access to the US market – but now that bank or firm operating in China, and/or its employees, can be legally punished for doing so. This can even apply to family members, and legal experts say perhaps also to think-tanks or journalists, or those on social media, who directly or indirectly advocate for sanctions.\nWe may not see the trigger pulled on that law immediately, but it shows just how much potential decoupling is being stored up ahead.And such decoupling is both very inflationary in some places, who will see supply shift back to them before they are ready, and very deflationary in others, who will see excess supply and no demand.The markets and central banks don’t want to see this geopolitical truth any more than they do the risk that inflation might be anything less than “transitory”.\nWhich brings me back to the opening riddle.\nHow many people were coming from St Ives? It looks like it takes math to work out: and do you include all the wives, and animals, and the man? However, the most common answer is: one -only the narrator was GOING to St Ives, and the others were coming FROM it.Sometimes the simplest answer is right there in front of our faces - but we like to try and hide it with math, cod-philosophy, and “because markets”.\nHappy Friday!","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":188188614,"gmtCreate":1623424238838,"gmtModify":1704203425890,"author":{"id":"3574320588413401","authorId":"3574320588413401","name":"LW100","avatar":"https://static.tigerbbs.com/5b57af0729a9fd62bb8bac5304505b9d","vip":1,"crmLevel":3,"crmLevelSwitch":0,"authorIdStr":"3574320588413401","idStr":"3574320588413401"},"htmlText":"Like!&nbsp;","listText":"Like!&nbsp;","text":"Like!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/188188614","repostId":1145537442,"repostType":4,"repost":{"id":"1145537442","kind":"news","pubTimestamp":1623419872,"share":"https://ttm.financial/m/news/1145537442?lang=&edition=fundamental","pubTime":"2021-06-11 21:57","market":"us","language":"en","title":"\"As I Was Going To St Ives\"... Why Today's G7 Meeting Is Important","url":"https://stock-news.laohu8.com/highlight/detail?id=1145537442","media":"zerohedge","summary":"As I was going to St Ives...\n\n“As I was going to St. Ives, I met a man with(G)\n 7 wives; Each wife h","content":"As I was going to St Ives...\n<blockquote>\n “As I was going to St. Ives, I met a man with(G)\n 7 wives; Each wife had(G)\n 7 sacks; Each sack had(G)\n 7 cats; Each cat had(G)\n 7 kits; Kits, cats, sacks, and wives, How many were there going to St. Ives?”\n</blockquote>\nThis old English riddle is appropriate today givenG7 leaders’ (and wives, sacks, cats, and kits) are allinSt Ives, Cornwall – and traffic is murder as a result. Don’t even think about trying to get a cream tea there.\nThe multiplicative element of the riddle also seems appropriate given inflation keeps running hot – and the market keeps saying not.Yesterday’s US CPI report surprised to the upside, with headline inflation up 0.6% m/m and 5.0% y/y, while even core CPI was up 0.7% m/m and 3.8% y/y. “Sic transit(ory) in incremento pretiorum mundi,”said the US Treasury market, with10-year yields spiking 5bp to 1.53% - and then collapsing back to 1.43% againregardless. The riddle contained in *that* is perhaps answered by short-covering, and the market seeing this surge as still a re-opening related supply shock (used car prices, etc., etc.) with no wage response looming, and so it will end up as destructive of demand in the end. Moreover, the surge in US demand weareclearly seeing, until current stimulus runs out in a few months, and the ever-present monthly Fed QE largesse, is seeing exporters to the US make serious hay, and their FX reserve levels surge in tandem. Those dollars have to go somewhere other than meme-stonks and rude cryptos: welcome to the Treasury market!\nThat said, there might be more stimulus ahead than thought. Swing senator Manchin, and nine others, have proposed a newcompromise infrastructure fiscal package of $1.0 trillion over 5 years, with no tax hikes. It’s not the $4 trillion first floated over 10 years, but it’s hardly chopped liver at $200bn a year with no off-setting tax hikes – that is around 1% of US GDP alone. Might this move the Treasury needle, or will it be soothed at the climb-down and presumption that even if this happens, none of it will be Made in America, as promised?\nMeanwhile, back to the G7 and entourage. This is an important meeting:there is the 15% tax deal, and opt-outs; a global vaccine plan; the background chill over Northern Ireland and chilled meats; and some commentators see this as US President Biden’s last chance to get Canada and the EU to agree to side with him in what he calls ‘a struggle between democracies and autocracies’, which has the smell of Potsdam and Yalta to it. So, weighty matters.\nThen again, this G7 are no FDR, Churchill, and Stalin. We have Biden, with his Cold War vision; Suga of Japan, ramping up defence spending “dramatically” with a more muscular foreign policy; Moon of South Korea, traditionally more cautious, but edging closer to the US in some key areas; Morrison of Australia, giving Cold War/Churchillian speeches; and Modi of India, via Zoom, clearly leaning US, but obviously focused on Covid-19. But it also means renowned geostrategist Trudeau of Canada; “Sausage wars” Johnson of the UK; just-slapped-in-the-face Macron of France, where a recent poll shows more than half of voters think their political system is “broken”; Draghi of Italy, seen by markets as his country’s last hope, so with his hands already full; and Merkel of obstinately non-geopolitical Germany,today celebrating a test-run of gas through the Nord Stream 2 gas pipeline, and continuing to back doing as much business as possible with China. As such, we should temper expectations:not so much Potsdam and storms in a tea pot?\nYet the suggestion is that if the EU cannot muster enthusiasm to back the US and ‘democracies vs. autocracies’ now, they never will; and while US-EU relations will not then fall to the floor, as under the Trump administration, there will also be a low effective ceiling going forwards – which will matter hugely on many fronts over time. There are many ways to define this Atlantic drift, but perhaps the simplest way is that the US thinks ‘freedom isn’t free’, while the EU clings to the view that freedom is both free and free-trade. Notably, however,the EU has joined the US in calling on China to allow “complete access” for an independent investigation into the origins of Covid-19, which backs it on one particular --and contentious-- front. So we shall have to watch the G7 for further developments.\nMeanwhile, if anyone is thinking that curtains are coming down from only one side of a potential East-West divide,China yesterday passed a new law to push back against foreign sanctions. Legal countermeasures now available to it include \"refusal to issue visas, denial of entry, deportation... and sealing, seizing, andfreezing property of individuals or businesses that adhere to foreign sanctions against Chinese businesses or officials.\" In short, a Western bank or firmmustcomply with US sanctions or lose access to the US market – but now that bank or firm operating in China, and/or its employees, can be legally punished for doing so. This can even apply to family members, and legal experts say perhaps also to think-tanks or journalists, or those on social media, who directly or indirectly advocate for sanctions.\nWe may not see the trigger pulled on that law immediately, but it shows just how much potential decoupling is being stored up ahead.And such decoupling is both very inflationary in some places, who will see supply shift back to them before they are ready, and very deflationary in others, who will see excess supply and no demand.The markets and central banks don’t want to see this geopolitical truth any more than they do the risk that inflation might be anything less than “transitory”.\nWhich brings me back to the opening riddle.\nHow many people were coming from St Ives? It looks like it takes math to work out: and do you include all the wives, and animals, and the man? However, the most common answer is: one -only the narrator was GOING to St Ives, and the others were coming FROM it.Sometimes the simplest answer is right there in front of our faces - but we like to try and hide it with math, cod-philosophy, and “because markets”.\nHappy Friday!","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>\"As I Was Going To St Ives\"... Why Today's G7 Meeting Is Important</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n\"As I Was Going To St Ives\"... Why Today's G7 Meeting Is Important\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-11 21:57 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.zerohedge.com/markets/i-was-going-st-ives-why-todays-g7-meeting-important?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29>zerohedge</a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\nAs I was going to St Ives...\n\n“As I was going to St. Ives, I met a man with(G)\n 7 wives; Each wife had(G)\n 7 sacks; Each sack had(G)\n 7 cats; Each cat had(G)\n 7 kits; Kits, cats, sacks, and wives, How...\n\n<a href=\"https://www.zerohedge.com/markets/i-was-going-st-ives-why-todays-g7-meeting-important?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".DJI":"道琼斯",".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index","SPY":"标普500ETF"},"source_url":"https://www.zerohedge.com/markets/i-was-going-st-ives-why-todays-g7-meeting-important?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1145537442","content_text":"As I was going to St Ives...\n\n“As I was going to St. Ives, I met a man with(G)\n 7 wives; Each wife had(G)\n 7 sacks; Each sack had(G)\n 7 cats; Each cat had(G)\n 7 kits; Kits, cats, sacks, and wives, How many were there going to St. Ives?”\n\nThis old English riddle is appropriate today givenG7 leaders’ (and wives, sacks, cats, and kits) are allinSt Ives, Cornwall – and traffic is murder as a result. Don’t even think about trying to get a cream tea there.\nThe multiplicative element of the riddle also seems appropriate given inflation keeps running hot – and the market keeps saying not.Yesterday’s US CPI report surprised to the upside, with headline inflation up 0.6% m/m and 5.0% y/y, while even core CPI was up 0.7% m/m and 3.8% y/y. “Sic transit(ory) in incremento pretiorum mundi,”said the US Treasury market, with10-year yields spiking 5bp to 1.53% - and then collapsing back to 1.43% againregardless. The riddle contained in *that* is perhaps answered by short-covering, and the market seeing this surge as still a re-opening related supply shock (used car prices, etc., etc.) with no wage response looming, and so it will end up as destructive of demand in the end. Moreover, the surge in US demand weareclearly seeing, until current stimulus runs out in a few months, and the ever-present monthly Fed QE largesse, is seeing exporters to the US make serious hay, and their FX reserve levels surge in tandem. Those dollars have to go somewhere other than meme-stonks and rude cryptos: welcome to the Treasury market!\nThat said, there might be more stimulus ahead than thought. Swing senator Manchin, and nine others, have proposed a newcompromise infrastructure fiscal package of $1.0 trillion over 5 years, with no tax hikes. It’s not the $4 trillion first floated over 10 years, but it’s hardly chopped liver at $200bn a year with no off-setting tax hikes – that is around 1% of US GDP alone. Might this move the Treasury needle, or will it be soothed at the climb-down and presumption that even if this happens, none of it will be Made in America, as promised?\nMeanwhile, back to the G7 and entourage. This is an important meeting:there is the 15% tax deal, and opt-outs; a global vaccine plan; the background chill over Northern Ireland and chilled meats; and some commentators see this as US President Biden’s last chance to get Canada and the EU to agree to side with him in what he calls ‘a struggle between democracies and autocracies’, which has the smell of Potsdam and Yalta to it. So, weighty matters.\nThen again, this G7 are no FDR, Churchill, and Stalin. We have Biden, with his Cold War vision; Suga of Japan, ramping up defence spending “dramatically” with a more muscular foreign policy; Moon of South Korea, traditionally more cautious, but edging closer to the US in some key areas; Morrison of Australia, giving Cold War/Churchillian speeches; and Modi of India, via Zoom, clearly leaning US, but obviously focused on Covid-19. But it also means renowned geostrategist Trudeau of Canada; “Sausage wars” Johnson of the UK; just-slapped-in-the-face Macron of France, where a recent poll shows more than half of voters think their political system is “broken”; Draghi of Italy, seen by markets as his country’s last hope, so with his hands already full; and Merkel of obstinately non-geopolitical Germany,today celebrating a test-run of gas through the Nord Stream 2 gas pipeline, and continuing to back doing as much business as possible with China. As such, we should temper expectations:not so much Potsdam and storms in a tea pot?\nYet the suggestion is that if the EU cannot muster enthusiasm to back the US and ‘democracies vs. autocracies’ now, they never will; and while US-EU relations will not then fall to the floor, as under the Trump administration, there will also be a low effective ceiling going forwards – which will matter hugely on many fronts over time. There are many ways to define this Atlantic drift, but perhaps the simplest way is that the US thinks ‘freedom isn’t free’, while the EU clings to the view that freedom is both free and free-trade. Notably, however,the EU has joined the US in calling on China to allow “complete access” for an independent investigation into the origins of Covid-19, which backs it on one particular --and contentious-- front. So we shall have to watch the G7 for further developments.\nMeanwhile, if anyone is thinking that curtains are coming down from only one side of a potential East-West divide,China yesterday passed a new law to push back against foreign sanctions. Legal countermeasures now available to it include \"refusal to issue visas, denial of entry, deportation... and sealing, seizing, andfreezing property of individuals or businesses that adhere to foreign sanctions against Chinese businesses or officials.\" In short, a Western bank or firmmustcomply with US sanctions or lose access to the US market – but now that bank or firm operating in China, and/or its employees, can be legally punished for doing so. This can even apply to family members, and legal experts say perhaps also to think-tanks or journalists, or those on social media, who directly or indirectly advocate for sanctions.\nWe may not see the trigger pulled on that law immediately, but it shows just how much potential decoupling is being stored up ahead.And such decoupling is both very inflationary in some places, who will see supply shift back to them before they are ready, and very deflationary in others, who will see excess supply and no demand.The markets and central banks don’t want to see this geopolitical truth any more than they do the risk that inflation might be anything less than “transitory”.\nWhich brings me back to the opening riddle.\nHow many people were coming from St Ives? It looks like it takes math to work out: and do you include all the wives, and animals, and the man? However, the most common answer is: one -only the narrator was GOING to St Ives, and the others were coming FROM it.Sometimes the simplest answer is right there in front of our faces - but we like to try and hide it with math, cod-philosophy, and “because markets”.\nHappy Friday!","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":4694261,"gmtCreate":1623429085177,"gmtModify":1663228503235,"authorId":3574320588413401,"author":{"id":3574320588413401,"idStr":"3574320588413401","authorId":3574320588413401,"name":"LW100","avatar":"https://static.tigerbbs.com/5b57af0729a9fd62bb8bac5304505b9d","vip":1,"crmLevel":3,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":188188614,"type":1,"supId":0,"prevId":0,"content":"Test","text":"Test","html":"Test"}],"langContent":"EN"},{"id":188183792,"gmtCreate":1623424159516,"gmtModify":1704203423129,"author":{"id":"3578200569665739","authorId":"3578200569665739","name":"Hihihihi","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":1,"crmLevelSwitch":0,"authorIdStr":"3578200569665739","idStr":"3578200569665739"},"htmlText":"Comment","listText":"Comment","text":"Comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":4,"repostSize":0,"link":"https://ttm.financial/post/188183792","repostId":1145537442,"repostType":4,"repost":{"id":"1145537442","kind":"news","pubTimestamp":1623419872,"share":"https://ttm.financial/m/news/1145537442?lang=&edition=fundamental","pubTime":"2021-06-11 21:57","market":"us","language":"en","title":"\"As I Was Going To St Ives\"... Why Today's G7 Meeting Is Important","url":"https://stock-news.laohu8.com/highlight/detail?id=1145537442","media":"zerohedge","summary":"As I was going to St Ives...\n\n“As I was going to St. Ives, I met a man with(G)\n 7 wives; Each wife h","content":"As I was going to St Ives...\n<blockquote>\n “As I was going to St. Ives, I met a man with(G)\n 7 wives; Each wife had(G)\n 7 sacks; Each sack had(G)\n 7 cats; Each cat had(G)\n 7 kits; Kits, cats, sacks, and wives, How many were there going to St. Ives?”\n</blockquote>\nThis old English riddle is appropriate today givenG7 leaders’ (and wives, sacks, cats, and kits) are allinSt Ives, Cornwall – and traffic is murder as a result. Don’t even think about trying to get a cream tea there.\nThe multiplicative element of the riddle also seems appropriate given inflation keeps running hot – and the market keeps saying not.Yesterday’s US CPI report surprised to the upside, with headline inflation up 0.6% m/m and 5.0% y/y, while even core CPI was up 0.7% m/m and 3.8% y/y. “Sic transit(ory) in incremento pretiorum mundi,”said the US Treasury market, with10-year yields spiking 5bp to 1.53% - and then collapsing back to 1.43% againregardless. The riddle contained in *that* is perhaps answered by short-covering, and the market seeing this surge as still a re-opening related supply shock (used car prices, etc., etc.) with no wage response looming, and so it will end up as destructive of demand in the end. Moreover, the surge in US demand weareclearly seeing, until current stimulus runs out in a few months, and the ever-present monthly Fed QE largesse, is seeing exporters to the US make serious hay, and their FX reserve levels surge in tandem. Those dollars have to go somewhere other than meme-stonks and rude cryptos: welcome to the Treasury market!\nThat said, there might be more stimulus ahead than thought. Swing senator Manchin, and nine others, have proposed a newcompromise infrastructure fiscal package of $1.0 trillion over 5 years, with no tax hikes. It’s not the $4 trillion first floated over 10 years, but it’s hardly chopped liver at $200bn a year with no off-setting tax hikes – that is around 1% of US GDP alone. Might this move the Treasury needle, or will it be soothed at the climb-down and presumption that even if this happens, none of it will be Made in America, as promised?\nMeanwhile, back to the G7 and entourage. This is an important meeting:there is the 15% tax deal, and opt-outs; a global vaccine plan; the background chill over Northern Ireland and chilled meats; and some commentators see this as US President Biden’s last chance to get Canada and the EU to agree to side with him in what he calls ‘a struggle between democracies and autocracies’, which has the smell of Potsdam and Yalta to it. So, weighty matters.\nThen again, this G7 are no FDR, Churchill, and Stalin. We have Biden, with his Cold War vision; Suga of Japan, ramping up defence spending “dramatically” with a more muscular foreign policy; Moon of South Korea, traditionally more cautious, but edging closer to the US in some key areas; Morrison of Australia, giving Cold War/Churchillian speeches; and Modi of India, via Zoom, clearly leaning US, but obviously focused on Covid-19. But it also means renowned geostrategist Trudeau of Canada; “Sausage wars” Johnson of the UK; just-slapped-in-the-face Macron of France, where a recent poll shows more than half of voters think their political system is “broken”; Draghi of Italy, seen by markets as his country’s last hope, so with his hands already full; and Merkel of obstinately non-geopolitical Germany,today celebrating a test-run of gas through the Nord Stream 2 gas pipeline, and continuing to back doing as much business as possible with China. As such, we should temper expectations:not so much Potsdam and storms in a tea pot?\nYet the suggestion is that if the EU cannot muster enthusiasm to back the US and ‘democracies vs. autocracies’ now, they never will; and while US-EU relations will not then fall to the floor, as under the Trump administration, there will also be a low effective ceiling going forwards – which will matter hugely on many fronts over time. There are many ways to define this Atlantic drift, but perhaps the simplest way is that the US thinks ‘freedom isn’t free’, while the EU clings to the view that freedom is both free and free-trade. Notably, however,the EU has joined the US in calling on China to allow “complete access” for an independent investigation into the origins of Covid-19, which backs it on one particular --and contentious-- front. So we shall have to watch the G7 for further developments.\nMeanwhile, if anyone is thinking that curtains are coming down from only one side of a potential East-West divide,China yesterday passed a new law to push back against foreign sanctions. Legal countermeasures now available to it include \"refusal to issue visas, denial of entry, deportation... and sealing, seizing, andfreezing property of individuals or businesses that adhere to foreign sanctions against Chinese businesses or officials.\" In short, a Western bank or firmmustcomply with US sanctions or lose access to the US market – but now that bank or firm operating in China, and/or its employees, can be legally punished for doing so. This can even apply to family members, and legal experts say perhaps also to think-tanks or journalists, or those on social media, who directly or indirectly advocate for sanctions.\nWe may not see the trigger pulled on that law immediately, but it shows just how much potential decoupling is being stored up ahead.And such decoupling is both very inflationary in some places, who will see supply shift back to them before they are ready, and very deflationary in others, who will see excess supply and no demand.The markets and central banks don’t want to see this geopolitical truth any more than they do the risk that inflation might be anything less than “transitory”.\nWhich brings me back to the opening riddle.\nHow many people were coming from St Ives? It looks like it takes math to work out: and do you include all the wives, and animals, and the man? However, the most common answer is: one -only the narrator was GOING to St Ives, and the others were coming FROM it.Sometimes the simplest answer is right there in front of our faces - but we like to try and hide it with math, cod-philosophy, and “because markets”.\nHappy Friday!","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>\"As I Was Going To St Ives\"... Why Today's G7 Meeting Is Important</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n\"As I Was Going To St Ives\"... Why Today's G7 Meeting Is Important\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-11 21:57 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.zerohedge.com/markets/i-was-going-st-ives-why-todays-g7-meeting-important?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29>zerohedge</a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\nAs I was going to St Ives...\n\n“As I was going to St. Ives, I met a man with(G)\n 7 wives; Each wife had(G)\n 7 sacks; Each sack had(G)\n 7 cats; Each cat had(G)\n 7 kits; Kits, cats, sacks, and wives, How...\n\n<a href=\"https://www.zerohedge.com/markets/i-was-going-st-ives-why-todays-g7-meeting-important?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".DJI":"道琼斯",".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index","SPY":"标普500ETF"},"source_url":"https://www.zerohedge.com/markets/i-was-going-st-ives-why-todays-g7-meeting-important?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1145537442","content_text":"As I was going to St Ives...\n\n“As I was going to St. Ives, I met a man with(G)\n 7 wives; Each wife had(G)\n 7 sacks; Each sack had(G)\n 7 cats; Each cat had(G)\n 7 kits; Kits, cats, sacks, and wives, How many were there going to St. Ives?”\n\nThis old English riddle is appropriate today givenG7 leaders’ (and wives, sacks, cats, and kits) are allinSt Ives, Cornwall – and traffic is murder as a result. Don’t even think about trying to get a cream tea there.\nThe multiplicative element of the riddle also seems appropriate given inflation keeps running hot – and the market keeps saying not.Yesterday’s US CPI report surprised to the upside, with headline inflation up 0.6% m/m and 5.0% y/y, while even core CPI was up 0.7% m/m and 3.8% y/y. “Sic transit(ory) in incremento pretiorum mundi,”said the US Treasury market, with10-year yields spiking 5bp to 1.53% - and then collapsing back to 1.43% againregardless. The riddle contained in *that* is perhaps answered by short-covering, and the market seeing this surge as still a re-opening related supply shock (used car prices, etc., etc.) with no wage response looming, and so it will end up as destructive of demand in the end. Moreover, the surge in US demand weareclearly seeing, until current stimulus runs out in a few months, and the ever-present monthly Fed QE largesse, is seeing exporters to the US make serious hay, and their FX reserve levels surge in tandem. Those dollars have to go somewhere other than meme-stonks and rude cryptos: welcome to the Treasury market!\nThat said, there might be more stimulus ahead than thought. Swing senator Manchin, and nine others, have proposed a newcompromise infrastructure fiscal package of $1.0 trillion over 5 years, with no tax hikes. It’s not the $4 trillion first floated over 10 years, but it’s hardly chopped liver at $200bn a year with no off-setting tax hikes – that is around 1% of US GDP alone. Might this move the Treasury needle, or will it be soothed at the climb-down and presumption that even if this happens, none of it will be Made in America, as promised?\nMeanwhile, back to the G7 and entourage. This is an important meeting:there is the 15% tax deal, and opt-outs; a global vaccine plan; the background chill over Northern Ireland and chilled meats; and some commentators see this as US President Biden’s last chance to get Canada and the EU to agree to side with him in what he calls ‘a struggle between democracies and autocracies’, which has the smell of Potsdam and Yalta to it. So, weighty matters.\nThen again, this G7 are no FDR, Churchill, and Stalin. We have Biden, with his Cold War vision; Suga of Japan, ramping up defence spending “dramatically” with a more muscular foreign policy; Moon of South Korea, traditionally more cautious, but edging closer to the US in some key areas; Morrison of Australia, giving Cold War/Churchillian speeches; and Modi of India, via Zoom, clearly leaning US, but obviously focused on Covid-19. But it also means renowned geostrategist Trudeau of Canada; “Sausage wars” Johnson of the UK; just-slapped-in-the-face Macron of France, where a recent poll shows more than half of voters think their political system is “broken”; Draghi of Italy, seen by markets as his country’s last hope, so with his hands already full; and Merkel of obstinately non-geopolitical Germany,today celebrating a test-run of gas through the Nord Stream 2 gas pipeline, and continuing to back doing as much business as possible with China. As such, we should temper expectations:not so much Potsdam and storms in a tea pot?\nYet the suggestion is that if the EU cannot muster enthusiasm to back the US and ‘democracies vs. autocracies’ now, they never will; and while US-EU relations will not then fall to the floor, as under the Trump administration, there will also be a low effective ceiling going forwards – which will matter hugely on many fronts over time. There are many ways to define this Atlantic drift, but perhaps the simplest way is that the US thinks ‘freedom isn’t free’, while the EU clings to the view that freedom is both free and free-trade. Notably, however,the EU has joined the US in calling on China to allow “complete access” for an independent investigation into the origins of Covid-19, which backs it on one particular --and contentious-- front. So we shall have to watch the G7 for further developments.\nMeanwhile, if anyone is thinking that curtains are coming down from only one side of a potential East-West divide,China yesterday passed a new law to push back against foreign sanctions. Legal countermeasures now available to it include \"refusal to issue visas, denial of entry, deportation... and sealing, seizing, andfreezing property of individuals or businesses that adhere to foreign sanctions against Chinese businesses or officials.\" In short, a Western bank or firmmustcomply with US sanctions or lose access to the US market – but now that bank or firm operating in China, and/or its employees, can be legally punished for doing so. This can even apply to family members, and legal experts say perhaps also to think-tanks or journalists, or those on social media, who directly or indirectly advocate for sanctions.\nWe may not see the trigger pulled on that law immediately, but it shows just how much potential decoupling is being stored up ahead.And such decoupling is both very inflationary in some places, who will see supply shift back to them before they are ready, and very deflationary in others, who will see excess supply and no demand.The markets and central banks don’t want to see this geopolitical truth any more than they do the risk that inflation might be anything less than “transitory”.\nWhich brings me back to the opening riddle.\nHow many people were coming from St Ives? It looks like it takes math to work out: and do you include all the wives, and animals, and the man? However, the most common answer is: one -only the narrator was GOING to St Ives, and the others were coming FROM it.Sometimes the simplest answer is right there in front of our faces - but we like to try and hide it with math, cod-philosophy, and “because markets”.\nHappy Friday!","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":4694968,"gmtCreate":1623431116921,"gmtModify":1663228506135,"authorId":3569807654789153,"author":{"id":3569807654789153,"idStr":"3569807654789153","authorId":3569807654789153,"name":"Horngryz","avatar":"https://static.tigerbbs.com/c97e02620d57cf3c3449462d356cd6c0","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":188183792,"type":1,"supId":0,"prevId":0,"content":"good","text":"good","html":"good"},{"id":4693031,"gmtCreate":1623426266074,"gmtModify":1663228498531,"authorId":3582782817523238,"author":{"id":3582782817523238,"idStr":"3582782817523238","authorId":3582782817523238,"name":"HHTan","avatar":"https://static.tigerbbs.com/c8134085c63f43886300c1e18d3ab40c","vip":1,"crmLevel":5,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":188183792,"type":1,"supId":0,"prevId":0,"content":"Comment. Please response and comment. thanks ","text":"Comment. Please response and comment. thanks ","html":"Comment. Please response and comment. thanks "},{"id":4693046,"gmtCreate":1623426308153,"gmtModify":1663228498133,"authorId":3582623610923489,"author":{"id":3582623610923489,"idStr":"3582623610923489","authorId":3582623610923489,"name":"Jcbduck","avatar":"https://static.tigerbbs.com/76b312b4fd97df52da46b59506df7179","vip":1,"crmLevel":5,"crmLevelSwitch":1,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":188183792,"type":1,"supId":4693031,"prevId":0,"content":"Ok","text":"Ok","html":"Ok"},{"id":4693070,"gmtCreate":1623426365508,"gmtModify":1663228498129,"authorId":3582782817523238,"author":{"id":3582782817523238,"idStr":"3582782817523238","authorId":3582782817523238,"name":"HHTan","avatar":"https://static.tigerbbs.com/c8134085c63f43886300c1e18d3ab40c","vip":1,"crmLevel":5,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":3582623610923489,"repliedAuthor":{"id":3582623610923489,"idStr":"3582623610923489","authorId":3582623610923489,"name":"Jcbduck","avatar":"https://static.tigerbbs.com/76b312b4fd97df52da46b59506df7179","vip":1,"crmLevel":5,"crmLevelSwitch":1,"individualDisplayBadges":[]},"objectId":188183792,"type":1,"supId":4693031,"prevId":4693046,"content":"Ok","text":"Ok","html":"Ok"}],"langContent":"EN"},{"id":188369648,"gmtCreate":1623421773784,"gmtModify":1704203302057,"author":{"id":"3576661654796782","authorId":"3576661654796782","name":"dorris","avatar":"https://static.tigerbbs.com/84b114b15e20e0a1c9966abc0c7d5c77","vip":1,"crmLevel":2,"crmLevelSwitch":0,"authorIdStr":"3576661654796782","idStr":"3576661654796782"},"htmlText":"Latest","listText":"Latest","text":"Latest","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/188369648","repostId":1145537442,"repostType":4,"repost":{"id":"1145537442","kind":"news","pubTimestamp":1623419872,"share":"https://ttm.financial/m/news/1145537442?lang=&edition=fundamental","pubTime":"2021-06-11 21:57","market":"us","language":"en","title":"\"As I Was Going To St Ives\"... Why Today's G7 Meeting Is Important","url":"https://stock-news.laohu8.com/highlight/detail?id=1145537442","media":"zerohedge","summary":"As I was going to St Ives...\n\n“As I was going to St. Ives, I met a man with(G)\n 7 wives; Each wife h","content":"As I was going to St Ives...\n<blockquote>\n “As I was going to St. Ives, I met a man with(G)\n 7 wives; Each wife had(G)\n 7 sacks; Each sack had(G)\n 7 cats; Each cat had(G)\n 7 kits; Kits, cats, sacks, and wives, How many were there going to St. Ives?”\n</blockquote>\nThis old English riddle is appropriate today givenG7 leaders’ (and wives, sacks, cats, and kits) are allinSt Ives, Cornwall – and traffic is murder as a result. Don’t even think about trying to get a cream tea there.\nThe multiplicative element of the riddle also seems appropriate given inflation keeps running hot – and the market keeps saying not.Yesterday’s US CPI report surprised to the upside, with headline inflation up 0.6% m/m and 5.0% y/y, while even core CPI was up 0.7% m/m and 3.8% y/y. “Sic transit(ory) in incremento pretiorum mundi,”said the US Treasury market, with10-year yields spiking 5bp to 1.53% - and then collapsing back to 1.43% againregardless. The riddle contained in *that* is perhaps answered by short-covering, and the market seeing this surge as still a re-opening related supply shock (used car prices, etc., etc.) with no wage response looming, and so it will end up as destructive of demand in the end. Moreover, the surge in US demand weareclearly seeing, until current stimulus runs out in a few months, and the ever-present monthly Fed QE largesse, is seeing exporters to the US make serious hay, and their FX reserve levels surge in tandem. Those dollars have to go somewhere other than meme-stonks and rude cryptos: welcome to the Treasury market!\nThat said, there might be more stimulus ahead than thought. Swing senator Manchin, and nine others, have proposed a newcompromise infrastructure fiscal package of $1.0 trillion over 5 years, with no tax hikes. It’s not the $4 trillion first floated over 10 years, but it’s hardly chopped liver at $200bn a year with no off-setting tax hikes – that is around 1% of US GDP alone. Might this move the Treasury needle, or will it be soothed at the climb-down and presumption that even if this happens, none of it will be Made in America, as promised?\nMeanwhile, back to the G7 and entourage. This is an important meeting:there is the 15% tax deal, and opt-outs; a global vaccine plan; the background chill over Northern Ireland and chilled meats; and some commentators see this as US President Biden’s last chance to get Canada and the EU to agree to side with him in what he calls ‘a struggle between democracies and autocracies’, which has the smell of Potsdam and Yalta to it. So, weighty matters.\nThen again, this G7 are no FDR, Churchill, and Stalin. We have Biden, with his Cold War vision; Suga of Japan, ramping up defence spending “dramatically” with a more muscular foreign policy; Moon of South Korea, traditionally more cautious, but edging closer to the US in some key areas; Morrison of Australia, giving Cold War/Churchillian speeches; and Modi of India, via Zoom, clearly leaning US, but obviously focused on Covid-19. But it also means renowned geostrategist Trudeau of Canada; “Sausage wars” Johnson of the UK; just-slapped-in-the-face Macron of France, where a recent poll shows more than half of voters think their political system is “broken”; Draghi of Italy, seen by markets as his country’s last hope, so with his hands already full; and Merkel of obstinately non-geopolitical Germany,today celebrating a test-run of gas through the Nord Stream 2 gas pipeline, and continuing to back doing as much business as possible with China. As such, we should temper expectations:not so much Potsdam and storms in a tea pot?\nYet the suggestion is that if the EU cannot muster enthusiasm to back the US and ‘democracies vs. autocracies’ now, they never will; and while US-EU relations will not then fall to the floor, as under the Trump administration, there will also be a low effective ceiling going forwards – which will matter hugely on many fronts over time. There are many ways to define this Atlantic drift, but perhaps the simplest way is that the US thinks ‘freedom isn’t free’, while the EU clings to the view that freedom is both free and free-trade. Notably, however,the EU has joined the US in calling on China to allow “complete access” for an independent investigation into the origins of Covid-19, which backs it on one particular --and contentious-- front. So we shall have to watch the G7 for further developments.\nMeanwhile, if anyone is thinking that curtains are coming down from only one side of a potential East-West divide,China yesterday passed a new law to push back against foreign sanctions. Legal countermeasures now available to it include \"refusal to issue visas, denial of entry, deportation... and sealing, seizing, andfreezing property of individuals or businesses that adhere to foreign sanctions against Chinese businesses or officials.\" In short, a Western bank or firmmustcomply with US sanctions or lose access to the US market – but now that bank or firm operating in China, and/or its employees, can be legally punished for doing so. This can even apply to family members, and legal experts say perhaps also to think-tanks or journalists, or those on social media, who directly or indirectly advocate for sanctions.\nWe may not see the trigger pulled on that law immediately, but it shows just how much potential decoupling is being stored up ahead.And such decoupling is both very inflationary in some places, who will see supply shift back to them before they are ready, and very deflationary in others, who will see excess supply and no demand.The markets and central banks don’t want to see this geopolitical truth any more than they do the risk that inflation might be anything less than “transitory”.\nWhich brings me back to the opening riddle.\nHow many people were coming from St Ives? It looks like it takes math to work out: and do you include all the wives, and animals, and the man? However, the most common answer is: one -only the narrator was GOING to St Ives, and the others were coming FROM it.Sometimes the simplest answer is right there in front of our faces - but we like to try and hide it with math, cod-philosophy, and “because markets”.\nHappy Friday!","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>\"As I Was Going To St Ives\"... Why Today's G7 Meeting Is Important</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n\"As I Was Going To St Ives\"... Why Today's G7 Meeting Is Important\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-11 21:57 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.zerohedge.com/markets/i-was-going-st-ives-why-todays-g7-meeting-important?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29>zerohedge</a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\nAs I was going to St Ives...\n\n“As I was going to St. Ives, I met a man with(G)\n 7 wives; Each wife had(G)\n 7 sacks; Each sack had(G)\n 7 cats; Each cat had(G)\n 7 kits; Kits, cats, sacks, and wives, How...\n\n<a href=\"https://www.zerohedge.com/markets/i-was-going-st-ives-why-todays-g7-meeting-important?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".DJI":"道琼斯",".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index","SPY":"标普500ETF"},"source_url":"https://www.zerohedge.com/markets/i-was-going-st-ives-why-todays-g7-meeting-important?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1145537442","content_text":"As I was going to St Ives...\n\n“As I was going to St. Ives, I met a man with(G)\n 7 wives; Each wife had(G)\n 7 sacks; Each sack had(G)\n 7 cats; Each cat had(G)\n 7 kits; Kits, cats, sacks, and wives, How many were there going to St. Ives?”\n\nThis old English riddle is appropriate today givenG7 leaders’ (and wives, sacks, cats, and kits) are allinSt Ives, Cornwall – and traffic is murder as a result. Don’t even think about trying to get a cream tea there.\nThe multiplicative element of the riddle also seems appropriate given inflation keeps running hot – and the market keeps saying not.Yesterday’s US CPI report surprised to the upside, with headline inflation up 0.6% m/m and 5.0% y/y, while even core CPI was up 0.7% m/m and 3.8% y/y. “Sic transit(ory) in incremento pretiorum mundi,”said the US Treasury market, with10-year yields spiking 5bp to 1.53% - and then collapsing back to 1.43% againregardless. The riddle contained in *that* is perhaps answered by short-covering, and the market seeing this surge as still a re-opening related supply shock (used car prices, etc., etc.) with no wage response looming, and so it will end up as destructive of demand in the end. Moreover, the surge in US demand weareclearly seeing, until current stimulus runs out in a few months, and the ever-present monthly Fed QE largesse, is seeing exporters to the US make serious hay, and their FX reserve levels surge in tandem. Those dollars have to go somewhere other than meme-stonks and rude cryptos: welcome to the Treasury market!\nThat said, there might be more stimulus ahead than thought. Swing senator Manchin, and nine others, have proposed a newcompromise infrastructure fiscal package of $1.0 trillion over 5 years, with no tax hikes. It’s not the $4 trillion first floated over 10 years, but it’s hardly chopped liver at $200bn a year with no off-setting tax hikes – that is around 1% of US GDP alone. Might this move the Treasury needle, or will it be soothed at the climb-down and presumption that even if this happens, none of it will be Made in America, as promised?\nMeanwhile, back to the G7 and entourage. This is an important meeting:there is the 15% tax deal, and opt-outs; a global vaccine plan; the background chill over Northern Ireland and chilled meats; and some commentators see this as US President Biden’s last chance to get Canada and the EU to agree to side with him in what he calls ‘a struggle between democracies and autocracies’, which has the smell of Potsdam and Yalta to it. So, weighty matters.\nThen again, this G7 are no FDR, Churchill, and Stalin. We have Biden, with his Cold War vision; Suga of Japan, ramping up defence spending “dramatically” with a more muscular foreign policy; Moon of South Korea, traditionally more cautious, but edging closer to the US in some key areas; Morrison of Australia, giving Cold War/Churchillian speeches; and Modi of India, via Zoom, clearly leaning US, but obviously focused on Covid-19. But it also means renowned geostrategist Trudeau of Canada; “Sausage wars” Johnson of the UK; just-slapped-in-the-face Macron of France, where a recent poll shows more than half of voters think their political system is “broken”; Draghi of Italy, seen by markets as his country’s last hope, so with his hands already full; and Merkel of obstinately non-geopolitical Germany,today celebrating a test-run of gas through the Nord Stream 2 gas pipeline, and continuing to back doing as much business as possible with China. As such, we should temper expectations:not so much Potsdam and storms in a tea pot?\nYet the suggestion is that if the EU cannot muster enthusiasm to back the US and ‘democracies vs. autocracies’ now, they never will; and while US-EU relations will not then fall to the floor, as under the Trump administration, there will also be a low effective ceiling going forwards – which will matter hugely on many fronts over time. There are many ways to define this Atlantic drift, but perhaps the simplest way is that the US thinks ‘freedom isn’t free’, while the EU clings to the view that freedom is both free and free-trade. Notably, however,the EU has joined the US in calling on China to allow “complete access” for an independent investigation into the origins of Covid-19, which backs it on one particular --and contentious-- front. So we shall have to watch the G7 for further developments.\nMeanwhile, if anyone is thinking that curtains are coming down from only one side of a potential East-West divide,China yesterday passed a new law to push back against foreign sanctions. Legal countermeasures now available to it include \"refusal to issue visas, denial of entry, deportation... and sealing, seizing, andfreezing property of individuals or businesses that adhere to foreign sanctions against Chinese businesses or officials.\" In short, a Western bank or firmmustcomply with US sanctions or lose access to the US market – but now that bank or firm operating in China, and/or its employees, can be legally punished for doing so. This can even apply to family members, and legal experts say perhaps also to think-tanks or journalists, or those on social media, who directly or indirectly advocate for sanctions.\nWe may not see the trigger pulled on that law immediately, but it shows just how much potential decoupling is being stored up ahead.And such decoupling is both very inflationary in some places, who will see supply shift back to them before they are ready, and very deflationary in others, who will see excess supply and no demand.The markets and central banks don’t want to see this geopolitical truth any more than they do the risk that inflation might be anything less than “transitory”.\nWhich brings me back to the opening riddle.\nHow many people were coming from St Ives? It looks like it takes math to work out: and do you include all the wives, and animals, and the man? However, the most common answer is: one -only the narrator was GOING to St Ives, and the others were coming FROM it.Sometimes the simplest answer is right there in front of our faces - but we like to try and hide it with math, cod-philosophy, and “because markets”.\nHappy Friday!","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":4691640,"gmtCreate":1623422999870,"gmtModify":1663228491036,"authorId":3573450191379774,"author":{"id":3573450191379774,"idStr":"3573450191379774","authorId":3573450191379774,"name":"J5385","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":188369648,"type":1,"supId":0,"prevId":0,"content":"like","text":"like","html":"like"}],"langContent":"EN"},{"id":188389531,"gmtCreate":1623421529523,"gmtModify":1704203288352,"author":{"id":"3566032787349185","authorId":"3566032787349185","name":"Khoogl","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":2,"crmLevelSwitch":0,"authorIdStr":"3566032787349185","idStr":"3566032787349185"},"htmlText":"Like&nbsp;","listText":"Like&nbsp;","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":3,"repostSize":0,"link":"https://ttm.financial/post/188389531","repostId":1145537442,"repostType":4,"repost":{"id":"1145537442","kind":"news","pubTimestamp":1623419872,"share":"https://ttm.financial/m/news/1145537442?lang=&edition=fundamental","pubTime":"2021-06-11 21:57","market":"us","language":"en","title":"\"As I Was Going To St Ives\"... Why Today's G7 Meeting Is Important","url":"https://stock-news.laohu8.com/highlight/detail?id=1145537442","media":"zerohedge","summary":"As I was going to St Ives...\n\n“As I was going to St. Ives, I met a man with(G)\n 7 wives; Each wife h","content":"As I was going to St Ives...\n<blockquote>\n “As I was going to St. Ives, I met a man with(G)\n 7 wives; Each wife had(G)\n 7 sacks; Each sack had(G)\n 7 cats; Each cat had(G)\n 7 kits; Kits, cats, sacks, and wives, How many were there going to St. Ives?”\n</blockquote>\nThis old English riddle is appropriate today givenG7 leaders’ (and wives, sacks, cats, and kits) are allinSt Ives, Cornwall – and traffic is murder as a result. Don’t even think about trying to get a cream tea there.\nThe multiplicative element of the riddle also seems appropriate given inflation keeps running hot – and the market keeps saying not.Yesterday’s US CPI report surprised to the upside, with headline inflation up 0.6% m/m and 5.0% y/y, while even core CPI was up 0.7% m/m and 3.8% y/y. “Sic transit(ory) in incremento pretiorum mundi,”said the US Treasury market, with10-year yields spiking 5bp to 1.53% - and then collapsing back to 1.43% againregardless. The riddle contained in *that* is perhaps answered by short-covering, and the market seeing this surge as still a re-opening related supply shock (used car prices, etc., etc.) with no wage response looming, and so it will end up as destructive of demand in the end. Moreover, the surge in US demand weareclearly seeing, until current stimulus runs out in a few months, and the ever-present monthly Fed QE largesse, is seeing exporters to the US make serious hay, and their FX reserve levels surge in tandem. Those dollars have to go somewhere other than meme-stonks and rude cryptos: welcome to the Treasury market!\nThat said, there might be more stimulus ahead than thought. Swing senator Manchin, and nine others, have proposed a newcompromise infrastructure fiscal package of $1.0 trillion over 5 years, with no tax hikes. It’s not the $4 trillion first floated over 10 years, but it’s hardly chopped liver at $200bn a year with no off-setting tax hikes – that is around 1% of US GDP alone. Might this move the Treasury needle, or will it be soothed at the climb-down and presumption that even if this happens, none of it will be Made in America, as promised?\nMeanwhile, back to the G7 and entourage. This is an important meeting:there is the 15% tax deal, and opt-outs; a global vaccine plan; the background chill over Northern Ireland and chilled meats; and some commentators see this as US President Biden’s last chance to get Canada and the EU to agree to side with him in what he calls ‘a struggle between democracies and autocracies’, which has the smell of Potsdam and Yalta to it. So, weighty matters.\nThen again, this G7 are no FDR, Churchill, and Stalin. We have Biden, with his Cold War vision; Suga of Japan, ramping up defence spending “dramatically” with a more muscular foreign policy; Moon of South Korea, traditionally more cautious, but edging closer to the US in some key areas; Morrison of Australia, giving Cold War/Churchillian speeches; and Modi of India, via Zoom, clearly leaning US, but obviously focused on Covid-19. But it also means renowned geostrategist Trudeau of Canada; “Sausage wars” Johnson of the UK; just-slapped-in-the-face Macron of France, where a recent poll shows more than half of voters think their political system is “broken”; Draghi of Italy, seen by markets as his country’s last hope, so with his hands already full; and Merkel of obstinately non-geopolitical Germany,today celebrating a test-run of gas through the Nord Stream 2 gas pipeline, and continuing to back doing as much business as possible with China. As such, we should temper expectations:not so much Potsdam and storms in a tea pot?\nYet the suggestion is that if the EU cannot muster enthusiasm to back the US and ‘democracies vs. autocracies’ now, they never will; and while US-EU relations will not then fall to the floor, as under the Trump administration, there will also be a low effective ceiling going forwards – which will matter hugely on many fronts over time. There are many ways to define this Atlantic drift, but perhaps the simplest way is that the US thinks ‘freedom isn’t free’, while the EU clings to the view that freedom is both free and free-trade. Notably, however,the EU has joined the US in calling on China to allow “complete access” for an independent investigation into the origins of Covid-19, which backs it on one particular --and contentious-- front. So we shall have to watch the G7 for further developments.\nMeanwhile, if anyone is thinking that curtains are coming down from only one side of a potential East-West divide,China yesterday passed a new law to push back against foreign sanctions. Legal countermeasures now available to it include \"refusal to issue visas, denial of entry, deportation... and sealing, seizing, andfreezing property of individuals or businesses that adhere to foreign sanctions against Chinese businesses or officials.\" In short, a Western bank or firmmustcomply with US sanctions or lose access to the US market – but now that bank or firm operating in China, and/or its employees, can be legally punished for doing so. This can even apply to family members, and legal experts say perhaps also to think-tanks or journalists, or those on social media, who directly or indirectly advocate for sanctions.\nWe may not see the trigger pulled on that law immediately, but it shows just how much potential decoupling is being stored up ahead.And such decoupling is both very inflationary in some places, who will see supply shift back to them before they are ready, and very deflationary in others, who will see excess supply and no demand.The markets and central banks don’t want to see this geopolitical truth any more than they do the risk that inflation might be anything less than “transitory”.\nWhich brings me back to the opening riddle.\nHow many people were coming from St Ives? It looks like it takes math to work out: and do you include all the wives, and animals, and the man? However, the most common answer is: one -only the narrator was GOING to St Ives, and the others were coming FROM it.Sometimes the simplest answer is right there in front of our faces - but we like to try and hide it with math, cod-philosophy, and “because markets”.\nHappy Friday!","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>\"As I Was Going To St Ives\"... Why Today's G7 Meeting Is Important</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n\"As I Was Going To St Ives\"... Why Today's G7 Meeting Is Important\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-11 21:57 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.zerohedge.com/markets/i-was-going-st-ives-why-todays-g7-meeting-important?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29>zerohedge</a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\nAs I was going to St Ives...\n\n“As I was going to St. Ives, I met a man with(G)\n 7 wives; Each wife had(G)\n 7 sacks; Each sack had(G)\n 7 cats; Each cat had(G)\n 7 kits; Kits, cats, sacks, and wives, How...\n\n<a href=\"https://www.zerohedge.com/markets/i-was-going-st-ives-why-todays-g7-meeting-important?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".DJI":"道琼斯",".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index","SPY":"标普500ETF"},"source_url":"https://www.zerohedge.com/markets/i-was-going-st-ives-why-todays-g7-meeting-important?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1145537442","content_text":"As I was going to St Ives...\n\n“As I was going to St. Ives, I met a man with(G)\n 7 wives; Each wife had(G)\n 7 sacks; Each sack had(G)\n 7 cats; Each cat had(G)\n 7 kits; Kits, cats, sacks, and wives, How many were there going to St. Ives?”\n\nThis old English riddle is appropriate today givenG7 leaders’ (and wives, sacks, cats, and kits) are allinSt Ives, Cornwall – and traffic is murder as a result. Don’t even think about trying to get a cream tea there.\nThe multiplicative element of the riddle also seems appropriate given inflation keeps running hot – and the market keeps saying not.Yesterday’s US CPI report surprised to the upside, with headline inflation up 0.6% m/m and 5.0% y/y, while even core CPI was up 0.7% m/m and 3.8% y/y. “Sic transit(ory) in incremento pretiorum mundi,”said the US Treasury market, with10-year yields spiking 5bp to 1.53% - and then collapsing back to 1.43% againregardless. The riddle contained in *that* is perhaps answered by short-covering, and the market seeing this surge as still a re-opening related supply shock (used car prices, etc., etc.) with no wage response looming, and so it will end up as destructive of demand in the end. Moreover, the surge in US demand weareclearly seeing, until current stimulus runs out in a few months, and the ever-present monthly Fed QE largesse, is seeing exporters to the US make serious hay, and their FX reserve levels surge in tandem. Those dollars have to go somewhere other than meme-stonks and rude cryptos: welcome to the Treasury market!\nThat said, there might be more stimulus ahead than thought. Swing senator Manchin, and nine others, have proposed a newcompromise infrastructure fiscal package of $1.0 trillion over 5 years, with no tax hikes. It’s not the $4 trillion first floated over 10 years, but it’s hardly chopped liver at $200bn a year with no off-setting tax hikes – that is around 1% of US GDP alone. Might this move the Treasury needle, or will it be soothed at the climb-down and presumption that even if this happens, none of it will be Made in America, as promised?\nMeanwhile, back to the G7 and entourage. This is an important meeting:there is the 15% tax deal, and opt-outs; a global vaccine plan; the background chill over Northern Ireland and chilled meats; and some commentators see this as US President Biden’s last chance to get Canada and the EU to agree to side with him in what he calls ‘a struggle between democracies and autocracies’, which has the smell of Potsdam and Yalta to it. So, weighty matters.\nThen again, this G7 are no FDR, Churchill, and Stalin. We have Biden, with his Cold War vision; Suga of Japan, ramping up defence spending “dramatically” with a more muscular foreign policy; Moon of South Korea, traditionally more cautious, but edging closer to the US in some key areas; Morrison of Australia, giving Cold War/Churchillian speeches; and Modi of India, via Zoom, clearly leaning US, but obviously focused on Covid-19. But it also means renowned geostrategist Trudeau of Canada; “Sausage wars” Johnson of the UK; just-slapped-in-the-face Macron of France, where a recent poll shows more than half of voters think their political system is “broken”; Draghi of Italy, seen by markets as his country’s last hope, so with his hands already full; and Merkel of obstinately non-geopolitical Germany,today celebrating a test-run of gas through the Nord Stream 2 gas pipeline, and continuing to back doing as much business as possible with China. As such, we should temper expectations:not so much Potsdam and storms in a tea pot?\nYet the suggestion is that if the EU cannot muster enthusiasm to back the US and ‘democracies vs. autocracies’ now, they never will; and while US-EU relations will not then fall to the floor, as under the Trump administration, there will also be a low effective ceiling going forwards – which will matter hugely on many fronts over time. There are many ways to define this Atlantic drift, but perhaps the simplest way is that the US thinks ‘freedom isn’t free’, while the EU clings to the view that freedom is both free and free-trade. Notably, however,the EU has joined the US in calling on China to allow “complete access” for an independent investigation into the origins of Covid-19, which backs it on one particular --and contentious-- front. So we shall have to watch the G7 for further developments.\nMeanwhile, if anyone is thinking that curtains are coming down from only one side of a potential East-West divide,China yesterday passed a new law to push back against foreign sanctions. Legal countermeasures now available to it include \"refusal to issue visas, denial of entry, deportation... and sealing, seizing, andfreezing property of individuals or businesses that adhere to foreign sanctions against Chinese businesses or officials.\" In short, a Western bank or firmmustcomply with US sanctions or lose access to the US market – but now that bank or firm operating in China, and/or its employees, can be legally punished for doing so. This can even apply to family members, and legal experts say perhaps also to think-tanks or journalists, or those on social media, who directly or indirectly advocate for sanctions.\nWe may not see the trigger pulled on that law immediately, but it shows just how much potential decoupling is being stored up ahead.And such decoupling is both very inflationary in some places, who will see supply shift back to them before they are ready, and very deflationary in others, who will see excess supply and no demand.The markets and central banks don’t want to see this geopolitical truth any more than they do the risk that inflation might be anything less than “transitory”.\nWhich brings me back to the opening riddle.\nHow many people were coming from St Ives? It looks like it takes math to work out: and do you include all the wives, and animals, and the man? However, the most common answer is: one -only the narrator was GOING to St Ives, and the others were coming FROM it.Sometimes the simplest answer is right there in front of our faces - but we like to try and hide it with math, cod-philosophy, and “because markets”.\nHappy Friday!","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":4692251,"gmtCreate":1623424283978,"gmtModify":1663228495037,"authorId":3582403330807441,"author":{"id":3582403330807441,"idStr":"3582403330807441","authorId":3582403330807441,"name":"thuiminn","avatar":"https://static.tigerbbs.com/ab77e304f9cf03ebe236699fa09e54b7","vip":1,"crmLevel":4,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":3581080954564999,"repliedAuthor":{"id":3581080954564999,"idStr":"3581080954564999","authorId":3581080954564999,"name":"HSR","avatar":"https://static.tigerbbs.com/52c27988aa5de1a2d30de90fb4a0f483","vip":1,"crmLevel":3,"crmLevelSwitch":0,"individualDisplayBadges":[]},"objectId":188389531,"type":1,"supId":4691096,"prevId":4692074,"content":"like and comment","text":"like and comment","html":"like and comment"},{"id":4692074,"gmtCreate":1623423950725,"gmtModify":1663228494432,"authorId":3581080954564999,"author":{"id":3581080954564999,"idStr":"3581080954564999","authorId":3581080954564999,"name":"HSR","avatar":"https://static.tigerbbs.com/52c27988aa5de1a2d30de90fb4a0f483","vip":1,"crmLevel":3,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":188389531,"type":1,"supId":4691096,"prevId":0,"content":"Done, plS comment back pls ??","text":"Done, plS comment back pls ??","html":"Done, plS comment back pls ??"},{"id":4691096,"gmtCreate":1623421922954,"gmtModify":1663228489348,"authorId":3577013550842392,"author":{"id":3577013550842392,"idStr":"3577013550842392","authorId":3577013550842392,"name":"pshiqi","avatar":"https://static.tigerbbs.com/4d0d43d7e16d5f90b7c7d88c66cb85e9","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":188389531,"type":1,"supId":0,"prevId":0,"content":"like n comment back pls","text":"like n comment back pls","html":"like n comment back pls"}],"langContent":"EN"},{"id":188392718,"gmtCreate":1623420982934,"gmtModify":1704203253053,"author":{"id":"3573033813970769","authorId":"3573033813970769","name":"CheeMang","avatar":"https://static.tigerbbs.com/97f355a1d36ee0fb7321de6482b9764f","vip":1,"crmLevel":4,"crmLevelSwitch":1,"authorIdStr":"3573033813970769","idStr":"3573033813970769"},"htmlText":"Comment and like","listText":"Comment and like","text":"Comment and like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":3,"repostSize":0,"link":"https://ttm.financial/post/188392718","repostId":1145537442,"repostType":4,"repost":{"id":"1145537442","kind":"news","pubTimestamp":1623419872,"share":"https://ttm.financial/m/news/1145537442?lang=&edition=fundamental","pubTime":"2021-06-11 21:57","market":"us","language":"en","title":"\"As I Was Going To St Ives\"... Why Today's G7 Meeting Is Important","url":"https://stock-news.laohu8.com/highlight/detail?id=1145537442","media":"zerohedge","summary":"As I was going to St Ives...\n\n“As I was going to St. Ives, I met a man with(G)\n 7 wives; Each wife h","content":"As I was going to St Ives...\n<blockquote>\n “As I was going to St. Ives, I met a man with(G)\n 7 wives; Each wife had(G)\n 7 sacks; Each sack had(G)\n 7 cats; Each cat had(G)\n 7 kits; Kits, cats, sacks, and wives, How many were there going to St. Ives?”\n</blockquote>\nThis old English riddle is appropriate today givenG7 leaders’ (and wives, sacks, cats, and kits) are allinSt Ives, Cornwall – and traffic is murder as a result. Don’t even think about trying to get a cream tea there.\nThe multiplicative element of the riddle also seems appropriate given inflation keeps running hot – and the market keeps saying not.Yesterday’s US CPI report surprised to the upside, with headline inflation up 0.6% m/m and 5.0% y/y, while even core CPI was up 0.7% m/m and 3.8% y/y. “Sic transit(ory) in incremento pretiorum mundi,”said the US Treasury market, with10-year yields spiking 5bp to 1.53% - and then collapsing back to 1.43% againregardless. The riddle contained in *that* is perhaps answered by short-covering, and the market seeing this surge as still a re-opening related supply shock (used car prices, etc., etc.) with no wage response looming, and so it will end up as destructive of demand in the end. Moreover, the surge in US demand weareclearly seeing, until current stimulus runs out in a few months, and the ever-present monthly Fed QE largesse, is seeing exporters to the US make serious hay, and their FX reserve levels surge in tandem. Those dollars have to go somewhere other than meme-stonks and rude cryptos: welcome to the Treasury market!\nThat said, there might be more stimulus ahead than thought. Swing senator Manchin, and nine others, have proposed a newcompromise infrastructure fiscal package of $1.0 trillion over 5 years, with no tax hikes. It’s not the $4 trillion first floated over 10 years, but it’s hardly chopped liver at $200bn a year with no off-setting tax hikes – that is around 1% of US GDP alone. Might this move the Treasury needle, or will it be soothed at the climb-down and presumption that even if this happens, none of it will be Made in America, as promised?\nMeanwhile, back to the G7 and entourage. This is an important meeting:there is the 15% tax deal, and opt-outs; a global vaccine plan; the background chill over Northern Ireland and chilled meats; and some commentators see this as US President Biden’s last chance to get Canada and the EU to agree to side with him in what he calls ‘a struggle between democracies and autocracies’, which has the smell of Potsdam and Yalta to it. So, weighty matters.\nThen again, this G7 are no FDR, Churchill, and Stalin. We have Biden, with his Cold War vision; Suga of Japan, ramping up defence spending “dramatically” with a more muscular foreign policy; Moon of South Korea, traditionally more cautious, but edging closer to the US in some key areas; Morrison of Australia, giving Cold War/Churchillian speeches; and Modi of India, via Zoom, clearly leaning US, but obviously focused on Covid-19. But it also means renowned geostrategist Trudeau of Canada; “Sausage wars” Johnson of the UK; just-slapped-in-the-face Macron of France, where a recent poll shows more than half of voters think their political system is “broken”; Draghi of Italy, seen by markets as his country’s last hope, so with his hands already full; and Merkel of obstinately non-geopolitical Germany,today celebrating a test-run of gas through the Nord Stream 2 gas pipeline, and continuing to back doing as much business as possible with China. As such, we should temper expectations:not so much Potsdam and storms in a tea pot?\nYet the suggestion is that if the EU cannot muster enthusiasm to back the US and ‘democracies vs. autocracies’ now, they never will; and while US-EU relations will not then fall to the floor, as under the Trump administration, there will also be a low effective ceiling going forwards – which will matter hugely on many fronts over time. There are many ways to define this Atlantic drift, but perhaps the simplest way is that the US thinks ‘freedom isn’t free’, while the EU clings to the view that freedom is both free and free-trade. Notably, however,the EU has joined the US in calling on China to allow “complete access” for an independent investigation into the origins of Covid-19, which backs it on one particular --and contentious-- front. So we shall have to watch the G7 for further developments.\nMeanwhile, if anyone is thinking that curtains are coming down from only one side of a potential East-West divide,China yesterday passed a new law to push back against foreign sanctions. Legal countermeasures now available to it include \"refusal to issue visas, denial of entry, deportation... and sealing, seizing, andfreezing property of individuals or businesses that adhere to foreign sanctions against Chinese businesses or officials.\" In short, a Western bank or firmmustcomply with US sanctions or lose access to the US market – but now that bank or firm operating in China, and/or its employees, can be legally punished for doing so. This can even apply to family members, and legal experts say perhaps also to think-tanks or journalists, or those on social media, who directly or indirectly advocate for sanctions.\nWe may not see the trigger pulled on that law immediately, but it shows just how much potential decoupling is being stored up ahead.And such decoupling is both very inflationary in some places, who will see supply shift back to them before they are ready, and very deflationary in others, who will see excess supply and no demand.The markets and central banks don’t want to see this geopolitical truth any more than they do the risk that inflation might be anything less than “transitory”.\nWhich brings me back to the opening riddle.\nHow many people were coming from St Ives? It looks like it takes math to work out: and do you include all the wives, and animals, and the man? However, the most common answer is: one -only the narrator was GOING to St Ives, and the others were coming FROM it.Sometimes the simplest answer is right there in front of our faces - but we like to try and hide it with math, cod-philosophy, and “because markets”.\nHappy Friday!","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>\"As I Was Going To St Ives\"... Why Today's G7 Meeting Is Important</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n\"As I Was Going To St Ives\"... Why Today's G7 Meeting Is Important\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-11 21:57 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.zerohedge.com/markets/i-was-going-st-ives-why-todays-g7-meeting-important?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29>zerohedge</a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\nAs I was going to St Ives...\n\n“As I was going to St. Ives, I met a man with(G)\n 7 wives; Each wife had(G)\n 7 sacks; Each sack had(G)\n 7 cats; Each cat had(G)\n 7 kits; Kits, cats, sacks, and wives, How...\n\n<a href=\"https://www.zerohedge.com/markets/i-was-going-st-ives-why-todays-g7-meeting-important?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".DJI":"道琼斯",".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index","SPY":"标普500ETF"},"source_url":"https://www.zerohedge.com/markets/i-was-going-st-ives-why-todays-g7-meeting-important?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1145537442","content_text":"As I was going to St Ives...\n\n“As I was going to St. Ives, I met a man with(G)\n 7 wives; Each wife had(G)\n 7 sacks; Each sack had(G)\n 7 cats; Each cat had(G)\n 7 kits; Kits, cats, sacks, and wives, How many were there going to St. Ives?”\n\nThis old English riddle is appropriate today givenG7 leaders’ (and wives, sacks, cats, and kits) are allinSt Ives, Cornwall – and traffic is murder as a result. Don’t even think about trying to get a cream tea there.\nThe multiplicative element of the riddle also seems appropriate given inflation keeps running hot – and the market keeps saying not.Yesterday’s US CPI report surprised to the upside, with headline inflation up 0.6% m/m and 5.0% y/y, while even core CPI was up 0.7% m/m and 3.8% y/y. “Sic transit(ory) in incremento pretiorum mundi,”said the US Treasury market, with10-year yields spiking 5bp to 1.53% - and then collapsing back to 1.43% againregardless. The riddle contained in *that* is perhaps answered by short-covering, and the market seeing this surge as still a re-opening related supply shock (used car prices, etc., etc.) with no wage response looming, and so it will end up as destructive of demand in the end. Moreover, the surge in US demand weareclearly seeing, until current stimulus runs out in a few months, and the ever-present monthly Fed QE largesse, is seeing exporters to the US make serious hay, and their FX reserve levels surge in tandem. Those dollars have to go somewhere other than meme-stonks and rude cryptos: welcome to the Treasury market!\nThat said, there might be more stimulus ahead than thought. Swing senator Manchin, and nine others, have proposed a newcompromise infrastructure fiscal package of $1.0 trillion over 5 years, with no tax hikes. It’s not the $4 trillion first floated over 10 years, but it’s hardly chopped liver at $200bn a year with no off-setting tax hikes – that is around 1% of US GDP alone. Might this move the Treasury needle, or will it be soothed at the climb-down and presumption that even if this happens, none of it will be Made in America, as promised?\nMeanwhile, back to the G7 and entourage. This is an important meeting:there is the 15% tax deal, and opt-outs; a global vaccine plan; the background chill over Northern Ireland and chilled meats; and some commentators see this as US President Biden’s last chance to get Canada and the EU to agree to side with him in what he calls ‘a struggle between democracies and autocracies’, which has the smell of Potsdam and Yalta to it. So, weighty matters.\nThen again, this G7 are no FDR, Churchill, and Stalin. We have Biden, with his Cold War vision; Suga of Japan, ramping up defence spending “dramatically” with a more muscular foreign policy; Moon of South Korea, traditionally more cautious, but edging closer to the US in some key areas; Morrison of Australia, giving Cold War/Churchillian speeches; and Modi of India, via Zoom, clearly leaning US, but obviously focused on Covid-19. But it also means renowned geostrategist Trudeau of Canada; “Sausage wars” Johnson of the UK; just-slapped-in-the-face Macron of France, where a recent poll shows more than half of voters think their political system is “broken”; Draghi of Italy, seen by markets as his country’s last hope, so with his hands already full; and Merkel of obstinately non-geopolitical Germany,today celebrating a test-run of gas through the Nord Stream 2 gas pipeline, and continuing to back doing as much business as possible with China. As such, we should temper expectations:not so much Potsdam and storms in a tea pot?\nYet the suggestion is that if the EU cannot muster enthusiasm to back the US and ‘democracies vs. autocracies’ now, they never will; and while US-EU relations will not then fall to the floor, as under the Trump administration, there will also be a low effective ceiling going forwards – which will matter hugely on many fronts over time. There are many ways to define this Atlantic drift, but perhaps the simplest way is that the US thinks ‘freedom isn’t free’, while the EU clings to the view that freedom is both free and free-trade. Notably, however,the EU has joined the US in calling on China to allow “complete access” for an independent investigation into the origins of Covid-19, which backs it on one particular --and contentious-- front. So we shall have to watch the G7 for further developments.\nMeanwhile, if anyone is thinking that curtains are coming down from only one side of a potential East-West divide,China yesterday passed a new law to push back against foreign sanctions. Legal countermeasures now available to it include \"refusal to issue visas, denial of entry, deportation... and sealing, seizing, andfreezing property of individuals or businesses that adhere to foreign sanctions against Chinese businesses or officials.\" In short, a Western bank or firmmustcomply with US sanctions or lose access to the US market – but now that bank or firm operating in China, and/or its employees, can be legally punished for doing so. This can even apply to family members, and legal experts say perhaps also to think-tanks or journalists, or those on social media, who directly or indirectly advocate for sanctions.\nWe may not see the trigger pulled on that law immediately, but it shows just how much potential decoupling is being stored up ahead.And such decoupling is both very inflationary in some places, who will see supply shift back to them before they are ready, and very deflationary in others, who will see excess supply and no demand.The markets and central banks don’t want to see this geopolitical truth any more than they do the risk that inflation might be anything less than “transitory”.\nWhich brings me back to the opening riddle.\nHow many people were coming from St Ives? It looks like it takes math to work out: and do you include all the wives, and animals, and the man? However, the most common answer is: one -only the narrator was GOING to St Ives, and the others were coming FROM it.Sometimes the simplest answer is right there in front of our faces - but we like to try and hide it with math, cod-philosophy, and “because markets”.\nHappy Friday!","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":4692257,"gmtCreate":1623424296041,"gmtModify":1663228495152,"authorId":3582403330807441,"author":{"id":3582403330807441,"idStr":"3582403330807441","authorId":3582403330807441,"name":"thuiminn","avatar":"https://static.tigerbbs.com/ab77e304f9cf03ebe236699fa09e54b7","vip":1,"crmLevel":4,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":188392718,"type":1,"supId":4691034,"prevId":0,"content":"like and comment","text":"like and comment","html":"like and comment"},{"id":4691034,"gmtCreate":1623421780706,"gmtModify":1663228488040,"authorId":3576661654796782,"author":{"id":3576661654796782,"idStr":"3576661654796782","authorId":3576661654796782,"name":"dorris","avatar":"https://static.tigerbbs.com/84b114b15e20e0a1c9966abc0c7d5c77","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":188392718,"type":1,"supId":0,"prevId":0,"content":"latest","text":"latest","html":"latest"},{"id":4690688,"gmtCreate":1623421111004,"gmtModify":1663228486927,"authorId":3579395122410207,"author":{"id":3579395122410207,"idStr":"3579395122410207","authorId":3579395122410207,"name":"potatocat","avatar":"https://static.tigerbbs.com/a0f1775d64a6cadcfc62032a15476777","vip":1,"crmLevel":4,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":188392718,"type":1,"supId":0,"prevId":0,"content":":)","text":":)","html":":)"}],"langContent":"EN"},{"id":188396042,"gmtCreate":1623420955986,"gmtModify":1704203251420,"author":{"id":"3573033813970769","authorId":"3573033813970769","name":"CheeMang","avatar":"https://static.tigerbbs.com/97f355a1d36ee0fb7321de6482b9764f","vip":1,"crmLevel":4,"crmLevelSwitch":1,"authorIdStr":"3573033813970769","idStr":"3573033813970769"},"htmlText":"Comment pls","listText":"Comment pls","text":"Comment pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/188396042","repostId":1145537442,"repostType":4,"repost":{"id":"1145537442","kind":"news","pubTimestamp":1623419872,"share":"https://ttm.financial/m/news/1145537442?lang=&edition=fundamental","pubTime":"2021-06-11 21:57","market":"us","language":"en","title":"\"As I Was Going To St Ives\"... Why Today's G7 Meeting Is Important","url":"https://stock-news.laohu8.com/highlight/detail?id=1145537442","media":"zerohedge","summary":"As I was going to St Ives...\n\n“As I was going to St. Ives, I met a man with(G)\n 7 wives; Each wife h","content":"As I was going to St Ives...\n<blockquote>\n “As I was going to St. Ives, I met a man with(G)\n 7 wives; Each wife had(G)\n 7 sacks; Each sack had(G)\n 7 cats; Each cat had(G)\n 7 kits; Kits, cats, sacks, and wives, How many were there going to St. Ives?”\n</blockquote>\nThis old English riddle is appropriate today givenG7 leaders’ (and wives, sacks, cats, and kits) are allinSt Ives, Cornwall – and traffic is murder as a result. Don’t even think about trying to get a cream tea there.\nThe multiplicative element of the riddle also seems appropriate given inflation keeps running hot – and the market keeps saying not.Yesterday’s US CPI report surprised to the upside, with headline inflation up 0.6% m/m and 5.0% y/y, while even core CPI was up 0.7% m/m and 3.8% y/y. “Sic transit(ory) in incremento pretiorum mundi,”said the US Treasury market, with10-year yields spiking 5bp to 1.53% - and then collapsing back to 1.43% againregardless. The riddle contained in *that* is perhaps answered by short-covering, and the market seeing this surge as still a re-opening related supply shock (used car prices, etc., etc.) with no wage response looming, and so it will end up as destructive of demand in the end. Moreover, the surge in US demand weareclearly seeing, until current stimulus runs out in a few months, and the ever-present monthly Fed QE largesse, is seeing exporters to the US make serious hay, and their FX reserve levels surge in tandem. Those dollars have to go somewhere other than meme-stonks and rude cryptos: welcome to the Treasury market!\nThat said, there might be more stimulus ahead than thought. Swing senator Manchin, and nine others, have proposed a newcompromise infrastructure fiscal package of $1.0 trillion over 5 years, with no tax hikes. It’s not the $4 trillion first floated over 10 years, but it’s hardly chopped liver at $200bn a year with no off-setting tax hikes – that is around 1% of US GDP alone. Might this move the Treasury needle, or will it be soothed at the climb-down and presumption that even if this happens, none of it will be Made in America, as promised?\nMeanwhile, back to the G7 and entourage. This is an important meeting:there is the 15% tax deal, and opt-outs; a global vaccine plan; the background chill over Northern Ireland and chilled meats; and some commentators see this as US President Biden’s last chance to get Canada and the EU to agree to side with him in what he calls ‘a struggle between democracies and autocracies’, which has the smell of Potsdam and Yalta to it. So, weighty matters.\nThen again, this G7 are no FDR, Churchill, and Stalin. We have Biden, with his Cold War vision; Suga of Japan, ramping up defence spending “dramatically” with a more muscular foreign policy; Moon of South Korea, traditionally more cautious, but edging closer to the US in some key areas; Morrison of Australia, giving Cold War/Churchillian speeches; and Modi of India, via Zoom, clearly leaning US, but obviously focused on Covid-19. But it also means renowned geostrategist Trudeau of Canada; “Sausage wars” Johnson of the UK; just-slapped-in-the-face Macron of France, where a recent poll shows more than half of voters think their political system is “broken”; Draghi of Italy, seen by markets as his country’s last hope, so with his hands already full; and Merkel of obstinately non-geopolitical Germany,today celebrating a test-run of gas through the Nord Stream 2 gas pipeline, and continuing to back doing as much business as possible with China. As such, we should temper expectations:not so much Potsdam and storms in a tea pot?\nYet the suggestion is that if the EU cannot muster enthusiasm to back the US and ‘democracies vs. autocracies’ now, they never will; and while US-EU relations will not then fall to the floor, as under the Trump administration, there will also be a low effective ceiling going forwards – which will matter hugely on many fronts over time. There are many ways to define this Atlantic drift, but perhaps the simplest way is that the US thinks ‘freedom isn’t free’, while the EU clings to the view that freedom is both free and free-trade. Notably, however,the EU has joined the US in calling on China to allow “complete access” for an independent investigation into the origins of Covid-19, which backs it on one particular --and contentious-- front. So we shall have to watch the G7 for further developments.\nMeanwhile, if anyone is thinking that curtains are coming down from only one side of a potential East-West divide,China yesterday passed a new law to push back against foreign sanctions. Legal countermeasures now available to it include \"refusal to issue visas, denial of entry, deportation... and sealing, seizing, andfreezing property of individuals or businesses that adhere to foreign sanctions against Chinese businesses or officials.\" In short, a Western bank or firmmustcomply with US sanctions or lose access to the US market – but now that bank or firm operating in China, and/or its employees, can be legally punished for doing so. This can even apply to family members, and legal experts say perhaps also to think-tanks or journalists, or those on social media, who directly or indirectly advocate for sanctions.\nWe may not see the trigger pulled on that law immediately, but it shows just how much potential decoupling is being stored up ahead.And such decoupling is both very inflationary in some places, who will see supply shift back to them before they are ready, and very deflationary in others, who will see excess supply and no demand.The markets and central banks don’t want to see this geopolitical truth any more than they do the risk that inflation might be anything less than “transitory”.\nWhich brings me back to the opening riddle.\nHow many people were coming from St Ives? It looks like it takes math to work out: and do you include all the wives, and animals, and the man? However, the most common answer is: one -only the narrator was GOING to St Ives, and the others were coming FROM it.Sometimes the simplest answer is right there in front of our faces - but we like to try and hide it with math, cod-philosophy, and “because markets”.\nHappy Friday!","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>\"As I Was Going To St Ives\"... Why Today's G7 Meeting Is Important</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n\"As I Was Going To St Ives\"... Why Today's G7 Meeting Is Important\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-11 21:57 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.zerohedge.com/markets/i-was-going-st-ives-why-todays-g7-meeting-important?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29>zerohedge</a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\nAs I was going to St Ives...\n\n“As I was going to St. Ives, I met a man with(G)\n 7 wives; Each wife had(G)\n 7 sacks; Each sack had(G)\n 7 cats; Each cat had(G)\n 7 kits; Kits, cats, sacks, and wives, How...\n\n<a href=\"https://www.zerohedge.com/markets/i-was-going-st-ives-why-todays-g7-meeting-important?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".DJI":"道琼斯",".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index","SPY":"标普500ETF"},"source_url":"https://www.zerohedge.com/markets/i-was-going-st-ives-why-todays-g7-meeting-important?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1145537442","content_text":"As I was going to St Ives...\n\n“As I was going to St. Ives, I met a man with(G)\n 7 wives; Each wife had(G)\n 7 sacks; Each sack had(G)\n 7 cats; Each cat had(G)\n 7 kits; Kits, cats, sacks, and wives, How many were there going to St. Ives?”\n\nThis old English riddle is appropriate today givenG7 leaders’ (and wives, sacks, cats, and kits) are allinSt Ives, Cornwall – and traffic is murder as a result. Don’t even think about trying to get a cream tea there.\nThe multiplicative element of the riddle also seems appropriate given inflation keeps running hot – and the market keeps saying not.Yesterday’s US CPI report surprised to the upside, with headline inflation up 0.6% m/m and 5.0% y/y, while even core CPI was up 0.7% m/m and 3.8% y/y. “Sic transit(ory) in incremento pretiorum mundi,”said the US Treasury market, with10-year yields spiking 5bp to 1.53% - and then collapsing back to 1.43% againregardless. The riddle contained in *that* is perhaps answered by short-covering, and the market seeing this surge as still a re-opening related supply shock (used car prices, etc., etc.) with no wage response looming, and so it will end up as destructive of demand in the end. Moreover, the surge in US demand weareclearly seeing, until current stimulus runs out in a few months, and the ever-present monthly Fed QE largesse, is seeing exporters to the US make serious hay, and their FX reserve levels surge in tandem. Those dollars have to go somewhere other than meme-stonks and rude cryptos: welcome to the Treasury market!\nThat said, there might be more stimulus ahead than thought. Swing senator Manchin, and nine others, have proposed a newcompromise infrastructure fiscal package of $1.0 trillion over 5 years, with no tax hikes. It’s not the $4 trillion first floated over 10 years, but it’s hardly chopped liver at $200bn a year with no off-setting tax hikes – that is around 1% of US GDP alone. Might this move the Treasury needle, or will it be soothed at the climb-down and presumption that even if this happens, none of it will be Made in America, as promised?\nMeanwhile, back to the G7 and entourage. This is an important meeting:there is the 15% tax deal, and opt-outs; a global vaccine plan; the background chill over Northern Ireland and chilled meats; and some commentators see this as US President Biden’s last chance to get Canada and the EU to agree to side with him in what he calls ‘a struggle between democracies and autocracies’, which has the smell of Potsdam and Yalta to it. So, weighty matters.\nThen again, this G7 are no FDR, Churchill, and Stalin. We have Biden, with his Cold War vision; Suga of Japan, ramping up defence spending “dramatically” with a more muscular foreign policy; Moon of South Korea, traditionally more cautious, but edging closer to the US in some key areas; Morrison of Australia, giving Cold War/Churchillian speeches; and Modi of India, via Zoom, clearly leaning US, but obviously focused on Covid-19. But it also means renowned geostrategist Trudeau of Canada; “Sausage wars” Johnson of the UK; just-slapped-in-the-face Macron of France, where a recent poll shows more than half of voters think their political system is “broken”; Draghi of Italy, seen by markets as his country’s last hope, so with his hands already full; and Merkel of obstinately non-geopolitical Germany,today celebrating a test-run of gas through the Nord Stream 2 gas pipeline, and continuing to back doing as much business as possible with China. As such, we should temper expectations:not so much Potsdam and storms in a tea pot?\nYet the suggestion is that if the EU cannot muster enthusiasm to back the US and ‘democracies vs. autocracies’ now, they never will; and while US-EU relations will not then fall to the floor, as under the Trump administration, there will also be a low effective ceiling going forwards – which will matter hugely on many fronts over time. There are many ways to define this Atlantic drift, but perhaps the simplest way is that the US thinks ‘freedom isn’t free’, while the EU clings to the view that freedom is both free and free-trade. Notably, however,the EU has joined the US in calling on China to allow “complete access” for an independent investigation into the origins of Covid-19, which backs it on one particular --and contentious-- front. So we shall have to watch the G7 for further developments.\nMeanwhile, if anyone is thinking that curtains are coming down from only one side of a potential East-West divide,China yesterday passed a new law to push back against foreign sanctions. Legal countermeasures now available to it include \"refusal to issue visas, denial of entry, deportation... and sealing, seizing, andfreezing property of individuals or businesses that adhere to foreign sanctions against Chinese businesses or officials.\" In short, a Western bank or firmmustcomply with US sanctions or lose access to the US market – but now that bank or firm operating in China, and/or its employees, can be legally punished for doing so. This can even apply to family members, and legal experts say perhaps also to think-tanks or journalists, or those on social media, who directly or indirectly advocate for sanctions.\nWe may not see the trigger pulled on that law immediately, but it shows just how much potential decoupling is being stored up ahead.And such decoupling is both very inflationary in some places, who will see supply shift back to them before they are ready, and very deflationary in others, who will see excess supply and no demand.The markets and central banks don’t want to see this geopolitical truth any more than they do the risk that inflation might be anything less than “transitory”.\nWhich brings me back to the opening riddle.\nHow many people were coming from St Ives? It looks like it takes math to work out: and do you include all the wives, and animals, and the man? However, the most common answer is: one -only the narrator was GOING to St Ives, and the others were coming FROM it.Sometimes the simplest answer is right there in front of our faces - but we like to try and hide it with math, cod-philosophy, and “because markets”.\nHappy Friday!","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":188306571,"gmtCreate":1623420791793,"gmtModify":1704203237279,"author":{"id":"3574750260836569","authorId":"3574750260836569","name":"WtfLime","avatar":"https://static.tigerbbs.com/b3c24d48f59435df8f014c0c182e600b","vip":1,"crmLevel":2,"crmLevelSwitch":0,"authorIdStr":"3574750260836569","idStr":"3574750260836569"},"htmlText":"LIKE AND COMMENT","listText":"LIKE AND COMMENT","text":"LIKE AND COMMENT","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/188306571","repostId":1145537442,"repostType":4,"repost":{"id":"1145537442","kind":"news","pubTimestamp":1623419872,"share":"https://ttm.financial/m/news/1145537442?lang=&edition=fundamental","pubTime":"2021-06-11 21:57","market":"us","language":"en","title":"\"As I Was Going To St Ives\"... Why Today's G7 Meeting Is Important","url":"https://stock-news.laohu8.com/highlight/detail?id=1145537442","media":"zerohedge","summary":"As I was going to St Ives...\n\n“As I was going to St. Ives, I met a man with(G)\n 7 wives; Each wife h","content":"As I was going to St Ives...\n<blockquote>\n “As I was going to St. Ives, I met a man with(G)\n 7 wives; Each wife had(G)\n 7 sacks; Each sack had(G)\n 7 cats; Each cat had(G)\n 7 kits; Kits, cats, sacks, and wives, How many were there going to St. Ives?”\n</blockquote>\nThis old English riddle is appropriate today givenG7 leaders’ (and wives, sacks, cats, and kits) are allinSt Ives, Cornwall – and traffic is murder as a result. Don’t even think about trying to get a cream tea there.\nThe multiplicative element of the riddle also seems appropriate given inflation keeps running hot – and the market keeps saying not.Yesterday’s US CPI report surprised to the upside, with headline inflation up 0.6% m/m and 5.0% y/y, while even core CPI was up 0.7% m/m and 3.8% y/y. “Sic transit(ory) in incremento pretiorum mundi,”said the US Treasury market, with10-year yields spiking 5bp to 1.53% - and then collapsing back to 1.43% againregardless. The riddle contained in *that* is perhaps answered by short-covering, and the market seeing this surge as still a re-opening related supply shock (used car prices, etc., etc.) with no wage response looming, and so it will end up as destructive of demand in the end. Moreover, the surge in US demand weareclearly seeing, until current stimulus runs out in a few months, and the ever-present monthly Fed QE largesse, is seeing exporters to the US make serious hay, and their FX reserve levels surge in tandem. Those dollars have to go somewhere other than meme-stonks and rude cryptos: welcome to the Treasury market!\nThat said, there might be more stimulus ahead than thought. Swing senator Manchin, and nine others, have proposed a newcompromise infrastructure fiscal package of $1.0 trillion over 5 years, with no tax hikes. It’s not the $4 trillion first floated over 10 years, but it’s hardly chopped liver at $200bn a year with no off-setting tax hikes – that is around 1% of US GDP alone. Might this move the Treasury needle, or will it be soothed at the climb-down and presumption that even if this happens, none of it will be Made in America, as promised?\nMeanwhile, back to the G7 and entourage. This is an important meeting:there is the 15% tax deal, and opt-outs; a global vaccine plan; the background chill over Northern Ireland and chilled meats; and some commentators see this as US President Biden’s last chance to get Canada and the EU to agree to side with him in what he calls ‘a struggle between democracies and autocracies’, which has the smell of Potsdam and Yalta to it. So, weighty matters.\nThen again, this G7 are no FDR, Churchill, and Stalin. We have Biden, with his Cold War vision; Suga of Japan, ramping up defence spending “dramatically” with a more muscular foreign policy; Moon of South Korea, traditionally more cautious, but edging closer to the US in some key areas; Morrison of Australia, giving Cold War/Churchillian speeches; and Modi of India, via Zoom, clearly leaning US, but obviously focused on Covid-19. But it also means renowned geostrategist Trudeau of Canada; “Sausage wars” Johnson of the UK; just-slapped-in-the-face Macron of France, where a recent poll shows more than half of voters think their political system is “broken”; Draghi of Italy, seen by markets as his country’s last hope, so with his hands already full; and Merkel of obstinately non-geopolitical Germany,today celebrating a test-run of gas through the Nord Stream 2 gas pipeline, and continuing to back doing as much business as possible with China. As such, we should temper expectations:not so much Potsdam and storms in a tea pot?\nYet the suggestion is that if the EU cannot muster enthusiasm to back the US and ‘democracies vs. autocracies’ now, they never will; and while US-EU relations will not then fall to the floor, as under the Trump administration, there will also be a low effective ceiling going forwards – which will matter hugely on many fronts over time. There are many ways to define this Atlantic drift, but perhaps the simplest way is that the US thinks ‘freedom isn’t free’, while the EU clings to the view that freedom is both free and free-trade. Notably, however,the EU has joined the US in calling on China to allow “complete access” for an independent investigation into the origins of Covid-19, which backs it on one particular --and contentious-- front. So we shall have to watch the G7 for further developments.\nMeanwhile, if anyone is thinking that curtains are coming down from only one side of a potential East-West divide,China yesterday passed a new law to push back against foreign sanctions. Legal countermeasures now available to it include \"refusal to issue visas, denial of entry, deportation... and sealing, seizing, andfreezing property of individuals or businesses that adhere to foreign sanctions against Chinese businesses or officials.\" In short, a Western bank or firmmustcomply with US sanctions or lose access to the US market – but now that bank or firm operating in China, and/or its employees, can be legally punished for doing so. This can even apply to family members, and legal experts say perhaps also to think-tanks or journalists, or those on social media, who directly or indirectly advocate for sanctions.\nWe may not see the trigger pulled on that law immediately, but it shows just how much potential decoupling is being stored up ahead.And such decoupling is both very inflationary in some places, who will see supply shift back to them before they are ready, and very deflationary in others, who will see excess supply and no demand.The markets and central banks don’t want to see this geopolitical truth any more than they do the risk that inflation might be anything less than “transitory”.\nWhich brings me back to the opening riddle.\nHow many people were coming from St Ives? It looks like it takes math to work out: and do you include all the wives, and animals, and the man? However, the most common answer is: one -only the narrator was GOING to St Ives, and the others were coming FROM it.Sometimes the simplest answer is right there in front of our faces - but we like to try and hide it with math, cod-philosophy, and “because markets”.\nHappy Friday!","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>\"As I Was Going To St Ives\"... Why Today's G7 Meeting Is Important</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n\"As I Was Going To St Ives\"... Why Today's G7 Meeting Is Important\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-11 21:57 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.zerohedge.com/markets/i-was-going-st-ives-why-todays-g7-meeting-important?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29>zerohedge</a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\nAs I was going to St Ives...\n\n“As I was going to St. Ives, I met a man with(G)\n 7 wives; Each wife had(G)\n 7 sacks; Each sack had(G)\n 7 cats; Each cat had(G)\n 7 kits; Kits, cats, sacks, and wives, How...\n\n<a href=\"https://www.zerohedge.com/markets/i-was-going-st-ives-why-todays-g7-meeting-important?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".DJI":"道琼斯",".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index","SPY":"标普500ETF"},"source_url":"https://www.zerohedge.com/markets/i-was-going-st-ives-why-todays-g7-meeting-important?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1145537442","content_text":"As I was going to St Ives...\n\n“As I was going to St. Ives, I met a man with(G)\n 7 wives; Each wife had(G)\n 7 sacks; Each sack had(G)\n 7 cats; Each cat had(G)\n 7 kits; Kits, cats, sacks, and wives, How many were there going to St. Ives?”\n\nThis old English riddle is appropriate today givenG7 leaders’ (and wives, sacks, cats, and kits) are allinSt Ives, Cornwall – and traffic is murder as a result. Don’t even think about trying to get a cream tea there.\nThe multiplicative element of the riddle also seems appropriate given inflation keeps running hot – and the market keeps saying not.Yesterday’s US CPI report surprised to the upside, with headline inflation up 0.6% m/m and 5.0% y/y, while even core CPI was up 0.7% m/m and 3.8% y/y. “Sic transit(ory) in incremento pretiorum mundi,”said the US Treasury market, with10-year yields spiking 5bp to 1.53% - and then collapsing back to 1.43% againregardless. The riddle contained in *that* is perhaps answered by short-covering, and the market seeing this surge as still a re-opening related supply shock (used car prices, etc., etc.) with no wage response looming, and so it will end up as destructive of demand in the end. Moreover, the surge in US demand weareclearly seeing, until current stimulus runs out in a few months, and the ever-present monthly Fed QE largesse, is seeing exporters to the US make serious hay, and their FX reserve levels surge in tandem. Those dollars have to go somewhere other than meme-stonks and rude cryptos: welcome to the Treasury market!\nThat said, there might be more stimulus ahead than thought. Swing senator Manchin, and nine others, have proposed a newcompromise infrastructure fiscal package of $1.0 trillion over 5 years, with no tax hikes. It’s not the $4 trillion first floated over 10 years, but it’s hardly chopped liver at $200bn a year with no off-setting tax hikes – that is around 1% of US GDP alone. Might this move the Treasury needle, or will it be soothed at the climb-down and presumption that even if this happens, none of it will be Made in America, as promised?\nMeanwhile, back to the G7 and entourage. This is an important meeting:there is the 15% tax deal, and opt-outs; a global vaccine plan; the background chill over Northern Ireland and chilled meats; and some commentators see this as US President Biden’s last chance to get Canada and the EU to agree to side with him in what he calls ‘a struggle between democracies and autocracies’, which has the smell of Potsdam and Yalta to it. So, weighty matters.\nThen again, this G7 are no FDR, Churchill, and Stalin. We have Biden, with his Cold War vision; Suga of Japan, ramping up defence spending “dramatically” with a more muscular foreign policy; Moon of South Korea, traditionally more cautious, but edging closer to the US in some key areas; Morrison of Australia, giving Cold War/Churchillian speeches; and Modi of India, via Zoom, clearly leaning US, but obviously focused on Covid-19. But it also means renowned geostrategist Trudeau of Canada; “Sausage wars” Johnson of the UK; just-slapped-in-the-face Macron of France, where a recent poll shows more than half of voters think their political system is “broken”; Draghi of Italy, seen by markets as his country’s last hope, so with his hands already full; and Merkel of obstinately non-geopolitical Germany,today celebrating a test-run of gas through the Nord Stream 2 gas pipeline, and continuing to back doing as much business as possible with China. As such, we should temper expectations:not so much Potsdam and storms in a tea pot?\nYet the suggestion is that if the EU cannot muster enthusiasm to back the US and ‘democracies vs. autocracies’ now, they never will; and while US-EU relations will not then fall to the floor, as under the Trump administration, there will also be a low effective ceiling going forwards – which will matter hugely on many fronts over time. There are many ways to define this Atlantic drift, but perhaps the simplest way is that the US thinks ‘freedom isn’t free’, while the EU clings to the view that freedom is both free and free-trade. Notably, however,the EU has joined the US in calling on China to allow “complete access” for an independent investigation into the origins of Covid-19, which backs it on one particular --and contentious-- front. So we shall have to watch the G7 for further developments.\nMeanwhile, if anyone is thinking that curtains are coming down from only one side of a potential East-West divide,China yesterday passed a new law to push back against foreign sanctions. Legal countermeasures now available to it include \"refusal to issue visas, denial of entry, deportation... and sealing, seizing, andfreezing property of individuals or businesses that adhere to foreign sanctions against Chinese businesses or officials.\" In short, a Western bank or firmmustcomply with US sanctions or lose access to the US market – but now that bank or firm operating in China, and/or its employees, can be legally punished for doing so. This can even apply to family members, and legal experts say perhaps also to think-tanks or journalists, or those on social media, who directly or indirectly advocate for sanctions.\nWe may not see the trigger pulled on that law immediately, but it shows just how much potential decoupling is being stored up ahead.And such decoupling is both very inflationary in some places, who will see supply shift back to them before they are ready, and very deflationary in others, who will see excess supply and no demand.The markets and central banks don’t want to see this geopolitical truth any more than they do the risk that inflation might be anything less than “transitory”.\nWhich brings me back to the opening riddle.\nHow many people were coming from St Ives? It looks like it takes math to work out: and do you include all the wives, and animals, and the man? However, the most common answer is: one -only the narrator was GOING to St Ives, and the others were coming FROM it.Sometimes the simplest answer is right there in front of our faces - but we like to try and hide it with math, cod-philosophy, and “because markets”.\nHappy Friday!","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":4690537,"gmtCreate":1623420897718,"gmtModify":1663228487433,"authorId":3581586523786578,"author":{"id":3581586523786578,"idStr":"3581586523786578","authorId":3581586523786578,"name":"ckww","avatar":"https://static.tigerbbs.com/bc2cc1ef6533d547201ce880e7c04b9c","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":188306571,"type":1,"supId":0,"prevId":0,"content":"Ok","text":"Ok","html":"Ok"}],"langContent":"EN"},{"id":188306193,"gmtCreate":1623420790412,"gmtModify":1704203236795,"author":{"id":"3573183689471548","authorId":"3573183689471548","name":"AidenTwc","avatar":"https://static.tigerbbs.com/e3d98987acfaeca40a8074393e11ecfb","vip":1,"hat":"https://static.tigerbbs.com/b073a07f77dbe6b3bec6b12311fde6bd","crmLevel":5,"crmLevelSwitch":1,"authorIdStr":"3573183689471548","idStr":"3573183689471548"},"htmlText":"Wahhhhh","listText":"Wahhhhh","text":"Wahhhhh","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/188306193","repostId":1145537442,"repostType":4,"repost":{"id":"1145537442","kind":"news","pubTimestamp":1623419872,"share":"https://ttm.financial/m/news/1145537442?lang=&edition=fundamental","pubTime":"2021-06-11 21:57","market":"us","language":"en","title":"\"As I Was Going To St Ives\"... Why Today's G7 Meeting Is Important","url":"https://stock-news.laohu8.com/highlight/detail?id=1145537442","media":"zerohedge","summary":"As I was going to St Ives...\n\n“As I was going to St. Ives, I met a man with(G)\n 7 wives; Each wife h","content":"As I was going to St Ives...\n<blockquote>\n “As I was going to St. Ives, I met a man with(G)\n 7 wives; Each wife had(G)\n 7 sacks; Each sack had(G)\n 7 cats; Each cat had(G)\n 7 kits; Kits, cats, sacks, and wives, How many were there going to St. Ives?”\n</blockquote>\nThis old English riddle is appropriate today givenG7 leaders’ (and wives, sacks, cats, and kits) are allinSt Ives, Cornwall – and traffic is murder as a result. Don’t even think about trying to get a cream tea there.\nThe multiplicative element of the riddle also seems appropriate given inflation keeps running hot – and the market keeps saying not.Yesterday’s US CPI report surprised to the upside, with headline inflation up 0.6% m/m and 5.0% y/y, while even core CPI was up 0.7% m/m and 3.8% y/y. “Sic transit(ory) in incremento pretiorum mundi,”said the US Treasury market, with10-year yields spiking 5bp to 1.53% - and then collapsing back to 1.43% againregardless. The riddle contained in *that* is perhaps answered by short-covering, and the market seeing this surge as still a re-opening related supply shock (used car prices, etc., etc.) with no wage response looming, and so it will end up as destructive of demand in the end. Moreover, the surge in US demand weareclearly seeing, until current stimulus runs out in a few months, and the ever-present monthly Fed QE largesse, is seeing exporters to the US make serious hay, and their FX reserve levels surge in tandem. Those dollars have to go somewhere other than meme-stonks and rude cryptos: welcome to the Treasury market!\nThat said, there might be more stimulus ahead than thought. Swing senator Manchin, and nine others, have proposed a newcompromise infrastructure fiscal package of $1.0 trillion over 5 years, with no tax hikes. It’s not the $4 trillion first floated over 10 years, but it’s hardly chopped liver at $200bn a year with no off-setting tax hikes – that is around 1% of US GDP alone. Might this move the Treasury needle, or will it be soothed at the climb-down and presumption that even if this happens, none of it will be Made in America, as promised?\nMeanwhile, back to the G7 and entourage. This is an important meeting:there is the 15% tax deal, and opt-outs; a global vaccine plan; the background chill over Northern Ireland and chilled meats; and some commentators see this as US President Biden’s last chance to get Canada and the EU to agree to side with him in what he calls ‘a struggle between democracies and autocracies’, which has the smell of Potsdam and Yalta to it. So, weighty matters.\nThen again, this G7 are no FDR, Churchill, and Stalin. We have Biden, with his Cold War vision; Suga of Japan, ramping up defence spending “dramatically” with a more muscular foreign policy; Moon of South Korea, traditionally more cautious, but edging closer to the US in some key areas; Morrison of Australia, giving Cold War/Churchillian speeches; and Modi of India, via Zoom, clearly leaning US, but obviously focused on Covid-19. But it also means renowned geostrategist Trudeau of Canada; “Sausage wars” Johnson of the UK; just-slapped-in-the-face Macron of France, where a recent poll shows more than half of voters think their political system is “broken”; Draghi of Italy, seen by markets as his country’s last hope, so with his hands already full; and Merkel of obstinately non-geopolitical Germany,today celebrating a test-run of gas through the Nord Stream 2 gas pipeline, and continuing to back doing as much business as possible with China. As such, we should temper expectations:not so much Potsdam and storms in a tea pot?\nYet the suggestion is that if the EU cannot muster enthusiasm to back the US and ‘democracies vs. autocracies’ now, they never will; and while US-EU relations will not then fall to the floor, as under the Trump administration, there will also be a low effective ceiling going forwards – which will matter hugely on many fronts over time. There are many ways to define this Atlantic drift, but perhaps the simplest way is that the US thinks ‘freedom isn’t free’, while the EU clings to the view that freedom is both free and free-trade. Notably, however,the EU has joined the US in calling on China to allow “complete access” for an independent investigation into the origins of Covid-19, which backs it on one particular --and contentious-- front. So we shall have to watch the G7 for further developments.\nMeanwhile, if anyone is thinking that curtains are coming down from only one side of a potential East-West divide,China yesterday passed a new law to push back against foreign sanctions. Legal countermeasures now available to it include \"refusal to issue visas, denial of entry, deportation... and sealing, seizing, andfreezing property of individuals or businesses that adhere to foreign sanctions against Chinese businesses or officials.\" In short, a Western bank or firmmustcomply with US sanctions or lose access to the US market – but now that bank or firm operating in China, and/or its employees, can be legally punished for doing so. This can even apply to family members, and legal experts say perhaps also to think-tanks or journalists, or those on social media, who directly or indirectly advocate for sanctions.\nWe may not see the trigger pulled on that law immediately, but it shows just how much potential decoupling is being stored up ahead.And such decoupling is both very inflationary in some places, who will see supply shift back to them before they are ready, and very deflationary in others, who will see excess supply and no demand.The markets and central banks don’t want to see this geopolitical truth any more than they do the risk that inflation might be anything less than “transitory”.\nWhich brings me back to the opening riddle.\nHow many people were coming from St Ives? It looks like it takes math to work out: and do you include all the wives, and animals, and the man? However, the most common answer is: one -only the narrator was GOING to St Ives, and the others were coming FROM it.Sometimes the simplest answer is right there in front of our faces - but we like to try and hide it with math, cod-philosophy, and “because markets”.\nHappy Friday!","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>\"As I Was Going To St Ives\"... Why Today's G7 Meeting Is Important</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n\"As I Was Going To St Ives\"... Why Today's G7 Meeting Is Important\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-11 21:57 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.zerohedge.com/markets/i-was-going-st-ives-why-todays-g7-meeting-important?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29>zerohedge</a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\nAs I was going to St Ives...\n\n“As I was going to St. Ives, I met a man with(G)\n 7 wives; Each wife had(G)\n 7 sacks; Each sack had(G)\n 7 cats; Each cat had(G)\n 7 kits; Kits, cats, sacks, and wives, How...\n\n<a href=\"https://www.zerohedge.com/markets/i-was-going-st-ives-why-todays-g7-meeting-important?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".DJI":"道琼斯",".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index","SPY":"标普500ETF"},"source_url":"https://www.zerohedge.com/markets/i-was-going-st-ives-why-todays-g7-meeting-important?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1145537442","content_text":"As I was going to St Ives...\n\n“As I was going to St. Ives, I met a man with(G)\n 7 wives; Each wife had(G)\n 7 sacks; Each sack had(G)\n 7 cats; Each cat had(G)\n 7 kits; Kits, cats, sacks, and wives, How many were there going to St. Ives?”\n\nThis old English riddle is appropriate today givenG7 leaders’ (and wives, sacks, cats, and kits) are allinSt Ives, Cornwall – and traffic is murder as a result. Don’t even think about trying to get a cream tea there.\nThe multiplicative element of the riddle also seems appropriate given inflation keeps running hot – and the market keeps saying not.Yesterday’s US CPI report surprised to the upside, with headline inflation up 0.6% m/m and 5.0% y/y, while even core CPI was up 0.7% m/m and 3.8% y/y. “Sic transit(ory) in incremento pretiorum mundi,”said the US Treasury market, with10-year yields spiking 5bp to 1.53% - and then collapsing back to 1.43% againregardless. The riddle contained in *that* is perhaps answered by short-covering, and the market seeing this surge as still a re-opening related supply shock (used car prices, etc., etc.) with no wage response looming, and so it will end up as destructive of demand in the end. Moreover, the surge in US demand weareclearly seeing, until current stimulus runs out in a few months, and the ever-present monthly Fed QE largesse, is seeing exporters to the US make serious hay, and their FX reserve levels surge in tandem. Those dollars have to go somewhere other than meme-stonks and rude cryptos: welcome to the Treasury market!\nThat said, there might be more stimulus ahead than thought. Swing senator Manchin, and nine others, have proposed a newcompromise infrastructure fiscal package of $1.0 trillion over 5 years, with no tax hikes. It’s not the $4 trillion first floated over 10 years, but it’s hardly chopped liver at $200bn a year with no off-setting tax hikes – that is around 1% of US GDP alone. Might this move the Treasury needle, or will it be soothed at the climb-down and presumption that even if this happens, none of it will be Made in America, as promised?\nMeanwhile, back to the G7 and entourage. This is an important meeting:there is the 15% tax deal, and opt-outs; a global vaccine plan; the background chill over Northern Ireland and chilled meats; and some commentators see this as US President Biden’s last chance to get Canada and the EU to agree to side with him in what he calls ‘a struggle between democracies and autocracies’, which has the smell of Potsdam and Yalta to it. So, weighty matters.\nThen again, this G7 are no FDR, Churchill, and Stalin. We have Biden, with his Cold War vision; Suga of Japan, ramping up defence spending “dramatically” with a more muscular foreign policy; Moon of South Korea, traditionally more cautious, but edging closer to the US in some key areas; Morrison of Australia, giving Cold War/Churchillian speeches; and Modi of India, via Zoom, clearly leaning US, but obviously focused on Covid-19. But it also means renowned geostrategist Trudeau of Canada; “Sausage wars” Johnson of the UK; just-slapped-in-the-face Macron of France, where a recent poll shows more than half of voters think their political system is “broken”; Draghi of Italy, seen by markets as his country’s last hope, so with his hands already full; and Merkel of obstinately non-geopolitical Germany,today celebrating a test-run of gas through the Nord Stream 2 gas pipeline, and continuing to back doing as much business as possible with China. As such, we should temper expectations:not so much Potsdam and storms in a tea pot?\nYet the suggestion is that if the EU cannot muster enthusiasm to back the US and ‘democracies vs. autocracies’ now, they never will; and while US-EU relations will not then fall to the floor, as under the Trump administration, there will also be a low effective ceiling going forwards – which will matter hugely on many fronts over time. There are many ways to define this Atlantic drift, but perhaps the simplest way is that the US thinks ‘freedom isn’t free’, while the EU clings to the view that freedom is both free and free-trade. Notably, however,the EU has joined the US in calling on China to allow “complete access” for an independent investigation into the origins of Covid-19, which backs it on one particular --and contentious-- front. So we shall have to watch the G7 for further developments.\nMeanwhile, if anyone is thinking that curtains are coming down from only one side of a potential East-West divide,China yesterday passed a new law to push back against foreign sanctions. Legal countermeasures now available to it include \"refusal to issue visas, denial of entry, deportation... and sealing, seizing, andfreezing property of individuals or businesses that adhere to foreign sanctions against Chinese businesses or officials.\" In short, a Western bank or firmmustcomply with US sanctions or lose access to the US market – but now that bank or firm operating in China, and/or its employees, can be legally punished for doing so. This can even apply to family members, and legal experts say perhaps also to think-tanks or journalists, or those on social media, who directly or indirectly advocate for sanctions.\nWe may not see the trigger pulled on that law immediately, but it shows just how much potential decoupling is being stored up ahead.And such decoupling is both very inflationary in some places, who will see supply shift back to them before they are ready, and very deflationary in others, who will see excess supply and no demand.The markets and central banks don’t want to see this geopolitical truth any more than they do the risk that inflation might be anything less than “transitory”.\nWhich brings me back to the opening riddle.\nHow many people were coming from St Ives? It looks like it takes math to work out: and do you include all the wives, and animals, and the man? However, the most common answer is: one -only the narrator was GOING to St Ives, and the others were coming FROM it.Sometimes the simplest answer is right there in front of our faces - but we like to try and hide it with math, cod-philosophy, and “because markets”.\nHappy Friday!","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":4690755,"gmtCreate":1623421223489,"gmtModify":1663228486644,"authorId":3574933578144706,"author":{"id":3574933578144706,"idStr":"3574933578144706","authorId":3574933578144706,"name":"huilong","avatar":"https://static.tigerbbs.com/24918e2ccc00a8c7ef5e28ccda2676ff","vip":1,"crmLevel":1,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":188306193,"type":1,"supId":0,"prevId":0,"content":"k","text":"k","html":"k"},{"id":4690562,"gmtCreate":1623420938211,"gmtModify":1635327280958,"authorId":3573033813970769,"author":{"id":3573033813970769,"idStr":"3573033813970769","authorId":3573033813970769,"name":"CheeMang","avatar":"https://static.tigerbbs.com/97f355a1d36ee0fb7321de6482b9764f","vip":1,"crmLevel":4,"crmLevelSwitch":1,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":188306193,"type":1,"supId":0,"prevId":0,"content":"K","text":"K","html":"K"}],"langContent":"EN"},{"id":188303590,"gmtCreate":1623420736610,"gmtModify":1704203233697,"author":{"id":"3585038405943602","authorId":"3585038405943602","name":"Ahleepapa","avatar":"https://static.tigerbbs.com/dcc1fea9c38112b58c68a2d96017330b","vip":1,"crmLevel":1,"crmLevelSwitch":1,"authorIdStr":"3585038405943602","idStr":"3585038405943602"},"htmlText":"Nth is more inpt than my bull run!","listText":"Nth is more inpt than my bull run!","text":"Nth is more inpt than my bull run!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/188303590","repostId":1145537442,"repostType":4,"repost":{"id":"1145537442","kind":"news","pubTimestamp":1623419872,"share":"https://ttm.financial/m/news/1145537442?lang=&edition=fundamental","pubTime":"2021-06-11 21:57","market":"us","language":"en","title":"\"As I Was Going To St Ives\"... Why Today's G7 Meeting Is Important","url":"https://stock-news.laohu8.com/highlight/detail?id=1145537442","media":"zerohedge","summary":"As I was going to St Ives...\n\n“As I was going to St. Ives, I met a man with(G)\n 7 wives; Each wife h","content":"As I was going to St Ives...\n<blockquote>\n “As I was going to St. Ives, I met a man with(G)\n 7 wives; Each wife had(G)\n 7 sacks; Each sack had(G)\n 7 cats; Each cat had(G)\n 7 kits; Kits, cats, sacks, and wives, How many were there going to St. Ives?”\n</blockquote>\nThis old English riddle is appropriate today givenG7 leaders’ (and wives, sacks, cats, and kits) are allinSt Ives, Cornwall – and traffic is murder as a result. Don’t even think about trying to get a cream tea there.\nThe multiplicative element of the riddle also seems appropriate given inflation keeps running hot – and the market keeps saying not.Yesterday’s US CPI report surprised to the upside, with headline inflation up 0.6% m/m and 5.0% y/y, while even core CPI was up 0.7% m/m and 3.8% y/y. “Sic transit(ory) in incremento pretiorum mundi,”said the US Treasury market, with10-year yields spiking 5bp to 1.53% - and then collapsing back to 1.43% againregardless. The riddle contained in *that* is perhaps answered by short-covering, and the market seeing this surge as still a re-opening related supply shock (used car prices, etc., etc.) with no wage response looming, and so it will end up as destructive of demand in the end. Moreover, the surge in US demand weareclearly seeing, until current stimulus runs out in a few months, and the ever-present monthly Fed QE largesse, is seeing exporters to the US make serious hay, and their FX reserve levels surge in tandem. Those dollars have to go somewhere other than meme-stonks and rude cryptos: welcome to the Treasury market!\nThat said, there might be more stimulus ahead than thought. Swing senator Manchin, and nine others, have proposed a newcompromise infrastructure fiscal package of $1.0 trillion over 5 years, with no tax hikes. It’s not the $4 trillion first floated over 10 years, but it’s hardly chopped liver at $200bn a year with no off-setting tax hikes – that is around 1% of US GDP alone. Might this move the Treasury needle, or will it be soothed at the climb-down and presumption that even if this happens, none of it will be Made in America, as promised?\nMeanwhile, back to the G7 and entourage. This is an important meeting:there is the 15% tax deal, and opt-outs; a global vaccine plan; the background chill over Northern Ireland and chilled meats; and some commentators see this as US President Biden’s last chance to get Canada and the EU to agree to side with him in what he calls ‘a struggle between democracies and autocracies’, which has the smell of Potsdam and Yalta to it. So, weighty matters.\nThen again, this G7 are no FDR, Churchill, and Stalin. We have Biden, with his Cold War vision; Suga of Japan, ramping up defence spending “dramatically” with a more muscular foreign policy; Moon of South Korea, traditionally more cautious, but edging closer to the US in some key areas; Morrison of Australia, giving Cold War/Churchillian speeches; and Modi of India, via Zoom, clearly leaning US, but obviously focused on Covid-19. But it also means renowned geostrategist Trudeau of Canada; “Sausage wars” Johnson of the UK; just-slapped-in-the-face Macron of France, where a recent poll shows more than half of voters think their political system is “broken”; Draghi of Italy, seen by markets as his country’s last hope, so with his hands already full; and Merkel of obstinately non-geopolitical Germany,today celebrating a test-run of gas through the Nord Stream 2 gas pipeline, and continuing to back doing as much business as possible with China. As such, we should temper expectations:not so much Potsdam and storms in a tea pot?\nYet the suggestion is that if the EU cannot muster enthusiasm to back the US and ‘democracies vs. autocracies’ now, they never will; and while US-EU relations will not then fall to the floor, as under the Trump administration, there will also be a low effective ceiling going forwards – which will matter hugely on many fronts over time. There are many ways to define this Atlantic drift, but perhaps the simplest way is that the US thinks ‘freedom isn’t free’, while the EU clings to the view that freedom is both free and free-trade. Notably, however,the EU has joined the US in calling on China to allow “complete access” for an independent investigation into the origins of Covid-19, which backs it on one particular --and contentious-- front. So we shall have to watch the G7 for further developments.\nMeanwhile, if anyone is thinking that curtains are coming down from only one side of a potential East-West divide,China yesterday passed a new law to push back against foreign sanctions. Legal countermeasures now available to it include \"refusal to issue visas, denial of entry, deportation... and sealing, seizing, andfreezing property of individuals or businesses that adhere to foreign sanctions against Chinese businesses or officials.\" In short, a Western bank or firmmustcomply with US sanctions or lose access to the US market – but now that bank or firm operating in China, and/or its employees, can be legally punished for doing so. This can even apply to family members, and legal experts say perhaps also to think-tanks or journalists, or those on social media, who directly or indirectly advocate for sanctions.\nWe may not see the trigger pulled on that law immediately, but it shows just how much potential decoupling is being stored up ahead.And such decoupling is both very inflationary in some places, who will see supply shift back to them before they are ready, and very deflationary in others, who will see excess supply and no demand.The markets and central banks don’t want to see this geopolitical truth any more than they do the risk that inflation might be anything less than “transitory”.\nWhich brings me back to the opening riddle.\nHow many people were coming from St Ives? It looks like it takes math to work out: and do you include all the wives, and animals, and the man? However, the most common answer is: one -only the narrator was GOING to St Ives, and the others were coming FROM it.Sometimes the simplest answer is right there in front of our faces - but we like to try and hide it with math, cod-philosophy, and “because markets”.\nHappy Friday!","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>\"As I Was Going To St Ives\"... Why Today's G7 Meeting Is Important</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n\"As I Was Going To St Ives\"... Why Today's G7 Meeting Is Important\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-11 21:57 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.zerohedge.com/markets/i-was-going-st-ives-why-todays-g7-meeting-important?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29>zerohedge</a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\nAs I was going to St Ives...\n\n“As I was going to St. Ives, I met a man with(G)\n 7 wives; Each wife had(G)\n 7 sacks; Each sack had(G)\n 7 cats; Each cat had(G)\n 7 kits; Kits, cats, sacks, and wives, How...\n\n<a href=\"https://www.zerohedge.com/markets/i-was-going-st-ives-why-todays-g7-meeting-important?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".DJI":"道琼斯",".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index","SPY":"标普500ETF"},"source_url":"https://www.zerohedge.com/markets/i-was-going-st-ives-why-todays-g7-meeting-important?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1145537442","content_text":"As I was going to St Ives...\n\n“As I was going to St. Ives, I met a man with(G)\n 7 wives; Each wife had(G)\n 7 sacks; Each sack had(G)\n 7 cats; Each cat had(G)\n 7 kits; Kits, cats, sacks, and wives, How many were there going to St. Ives?”\n\nThis old English riddle is appropriate today givenG7 leaders’ (and wives, sacks, cats, and kits) are allinSt Ives, Cornwall – and traffic is murder as a result. Don’t even think about trying to get a cream tea there.\nThe multiplicative element of the riddle also seems appropriate given inflation keeps running hot – and the market keeps saying not.Yesterday’s US CPI report surprised to the upside, with headline inflation up 0.6% m/m and 5.0% y/y, while even core CPI was up 0.7% m/m and 3.8% y/y. “Sic transit(ory) in incremento pretiorum mundi,”said the US Treasury market, with10-year yields spiking 5bp to 1.53% - and then collapsing back to 1.43% againregardless. The riddle contained in *that* is perhaps answered by short-covering, and the market seeing this surge as still a re-opening related supply shock (used car prices, etc., etc.) with no wage response looming, and so it will end up as destructive of demand in the end. Moreover, the surge in US demand weareclearly seeing, until current stimulus runs out in a few months, and the ever-present monthly Fed QE largesse, is seeing exporters to the US make serious hay, and their FX reserve levels surge in tandem. Those dollars have to go somewhere other than meme-stonks and rude cryptos: welcome to the Treasury market!\nThat said, there might be more stimulus ahead than thought. Swing senator Manchin, and nine others, have proposed a newcompromise infrastructure fiscal package of $1.0 trillion over 5 years, with no tax hikes. It’s not the $4 trillion first floated over 10 years, but it’s hardly chopped liver at $200bn a year with no off-setting tax hikes – that is around 1% of US GDP alone. Might this move the Treasury needle, or will it be soothed at the climb-down and presumption that even if this happens, none of it will be Made in America, as promised?\nMeanwhile, back to the G7 and entourage. This is an important meeting:there is the 15% tax deal, and opt-outs; a global vaccine plan; the background chill over Northern Ireland and chilled meats; and some commentators see this as US President Biden’s last chance to get Canada and the EU to agree to side with him in what he calls ‘a struggle between democracies and autocracies’, which has the smell of Potsdam and Yalta to it. So, weighty matters.\nThen again, this G7 are no FDR, Churchill, and Stalin. We have Biden, with his Cold War vision; Suga of Japan, ramping up defence spending “dramatically” with a more muscular foreign policy; Moon of South Korea, traditionally more cautious, but edging closer to the US in some key areas; Morrison of Australia, giving Cold War/Churchillian speeches; and Modi of India, via Zoom, clearly leaning US, but obviously focused on Covid-19. But it also means renowned geostrategist Trudeau of Canada; “Sausage wars” Johnson of the UK; just-slapped-in-the-face Macron of France, where a recent poll shows more than half of voters think their political system is “broken”; Draghi of Italy, seen by markets as his country’s last hope, so with his hands already full; and Merkel of obstinately non-geopolitical Germany,today celebrating a test-run of gas through the Nord Stream 2 gas pipeline, and continuing to back doing as much business as possible with China. As such, we should temper expectations:not so much Potsdam and storms in a tea pot?\nYet the suggestion is that if the EU cannot muster enthusiasm to back the US and ‘democracies vs. autocracies’ now, they never will; and while US-EU relations will not then fall to the floor, as under the Trump administration, there will also be a low effective ceiling going forwards – which will matter hugely on many fronts over time. There are many ways to define this Atlantic drift, but perhaps the simplest way is that the US thinks ‘freedom isn’t free’, while the EU clings to the view that freedom is both free and free-trade. Notably, however,the EU has joined the US in calling on China to allow “complete access” for an independent investigation into the origins of Covid-19, which backs it on one particular --and contentious-- front. So we shall have to watch the G7 for further developments.\nMeanwhile, if anyone is thinking that curtains are coming down from only one side of a potential East-West divide,China yesterday passed a new law to push back against foreign sanctions. Legal countermeasures now available to it include \"refusal to issue visas, denial of entry, deportation... and sealing, seizing, andfreezing property of individuals or businesses that adhere to foreign sanctions against Chinese businesses or officials.\" In short, a Western bank or firmmustcomply with US sanctions or lose access to the US market – but now that bank or firm operating in China, and/or its employees, can be legally punished for doing so. This can even apply to family members, and legal experts say perhaps also to think-tanks or journalists, or those on social media, who directly or indirectly advocate for sanctions.\nWe may not see the trigger pulled on that law immediately, but it shows just how much potential decoupling is being stored up ahead.And such decoupling is both very inflationary in some places, who will see supply shift back to them before they are ready, and very deflationary in others, who will see excess supply and no demand.The markets and central banks don’t want to see this geopolitical truth any more than they do the risk that inflation might be anything less than “transitory”.\nWhich brings me back to the opening riddle.\nHow many people were coming from St Ives? It looks like it takes math to work out: and do you include all the wives, and animals, and the man? However, the most common answer is: one -only the narrator was GOING to St Ives, and the others were coming FROM it.Sometimes the simplest answer is right there in front of our faces - but we like to try and hide it with math, cod-philosophy, and “because markets”.\nHappy Friday!","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":4690472,"gmtCreate":1623420784700,"gmtModify":1663228486438,"authorId":3574750260836569,"author":{"id":3574750260836569,"idStr":"3574750260836569","authorId":3574750260836569,"name":"WtfLime","avatar":"https://static.tigerbbs.com/b3c24d48f59435df8f014c0c182e600b","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":188303590,"type":1,"supId":0,"prevId":0,"content":"HAHAHHAAHAH","text":"HAHAHHAAHAH","html":"HAHAHHAAHAH"}],"langContent":"EN"},{"id":188974296,"gmtCreate":1623420649215,"gmtModify":1704203227596,"author":{"id":"3580988274582448","authorId":"3580988274582448","name":"BullishKing","avatar":"https://community-static.tradeup.com/news/8e57a03283c997f83948f8c331be008d","vip":1,"crmLevel":2,"crmLevelSwitch":1,"authorIdStr":"3580988274582448","idStr":"3580988274582448"},"htmlText":"Great","listText":"Great","text":"Great","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/188974296","repostId":1145537442,"repostType":2,"repost":{"id":"1145537442","kind":"news","pubTimestamp":1623419872,"share":"https://ttm.financial/m/news/1145537442?lang=&edition=fundamental","pubTime":"2021-06-11 21:57","market":"us","language":"en","title":"\"As I Was Going To St Ives\"... Why Today's G7 Meeting Is Important","url":"https://stock-news.laohu8.com/highlight/detail?id=1145537442","media":"zerohedge","summary":"As I was going to St Ives...\n\n“As I was going to St. Ives, I met a man with(G)\n 7 wives; Each wife h","content":"As I was going to St Ives...\n<blockquote>\n “As I was going to St. Ives, I met a man with(G)\n 7 wives; Each wife had(G)\n 7 sacks; Each sack had(G)\n 7 cats; Each cat had(G)\n 7 kits; Kits, cats, sacks, and wives, How many were there going to St. Ives?”\n</blockquote>\nThis old English riddle is appropriate today givenG7 leaders’ (and wives, sacks, cats, and kits) are allinSt Ives, Cornwall – and traffic is murder as a result. Don’t even think about trying to get a cream tea there.\nThe multiplicative element of the riddle also seems appropriate given inflation keeps running hot – and the market keeps saying not.Yesterday’s US CPI report surprised to the upside, with headline inflation up 0.6% m/m and 5.0% y/y, while even core CPI was up 0.7% m/m and 3.8% y/y. “Sic transit(ory) in incremento pretiorum mundi,”said the US Treasury market, with10-year yields spiking 5bp to 1.53% - and then collapsing back to 1.43% againregardless. The riddle contained in *that* is perhaps answered by short-covering, and the market seeing this surge as still a re-opening related supply shock (used car prices, etc., etc.) with no wage response looming, and so it will end up as destructive of demand in the end. Moreover, the surge in US demand weareclearly seeing, until current stimulus runs out in a few months, and the ever-present monthly Fed QE largesse, is seeing exporters to the US make serious hay, and their FX reserve levels surge in tandem. Those dollars have to go somewhere other than meme-stonks and rude cryptos: welcome to the Treasury market!\nThat said, there might be more stimulus ahead than thought. Swing senator Manchin, and nine others, have proposed a newcompromise infrastructure fiscal package of $1.0 trillion over 5 years, with no tax hikes. It’s not the $4 trillion first floated over 10 years, but it’s hardly chopped liver at $200bn a year with no off-setting tax hikes – that is around 1% of US GDP alone. Might this move the Treasury needle, or will it be soothed at the climb-down and presumption that even if this happens, none of it will be Made in America, as promised?\nMeanwhile, back to the G7 and entourage. This is an important meeting:there is the 15% tax deal, and opt-outs; a global vaccine plan; the background chill over Northern Ireland and chilled meats; and some commentators see this as US President Biden’s last chance to get Canada and the EU to agree to side with him in what he calls ‘a struggle between democracies and autocracies’, which has the smell of Potsdam and Yalta to it. So, weighty matters.\nThen again, this G7 are no FDR, Churchill, and Stalin. We have Biden, with his Cold War vision; Suga of Japan, ramping up defence spending “dramatically” with a more muscular foreign policy; Moon of South Korea, traditionally more cautious, but edging closer to the US in some key areas; Morrison of Australia, giving Cold War/Churchillian speeches; and Modi of India, via Zoom, clearly leaning US, but obviously focused on Covid-19. But it also means renowned geostrategist Trudeau of Canada; “Sausage wars” Johnson of the UK; just-slapped-in-the-face Macron of France, where a recent poll shows more than half of voters think their political system is “broken”; Draghi of Italy, seen by markets as his country’s last hope, so with his hands already full; and Merkel of obstinately non-geopolitical Germany,today celebrating a test-run of gas through the Nord Stream 2 gas pipeline, and continuing to back doing as much business as possible with China. As such, we should temper expectations:not so much Potsdam and storms in a tea pot?\nYet the suggestion is that if the EU cannot muster enthusiasm to back the US and ‘democracies vs. autocracies’ now, they never will; and while US-EU relations will not then fall to the floor, as under the Trump administration, there will also be a low effective ceiling going forwards – which will matter hugely on many fronts over time. There are many ways to define this Atlantic drift, but perhaps the simplest way is that the US thinks ‘freedom isn’t free’, while the EU clings to the view that freedom is both free and free-trade. Notably, however,the EU has joined the US in calling on China to allow “complete access” for an independent investigation into the origins of Covid-19, which backs it on one particular --and contentious-- front. So we shall have to watch the G7 for further developments.\nMeanwhile, if anyone is thinking that curtains are coming down from only one side of a potential East-West divide,China yesterday passed a new law to push back against foreign sanctions. Legal countermeasures now available to it include \"refusal to issue visas, denial of entry, deportation... and sealing, seizing, andfreezing property of individuals or businesses that adhere to foreign sanctions against Chinese businesses or officials.\" In short, a Western bank or firmmustcomply with US sanctions or lose access to the US market – but now that bank or firm operating in China, and/or its employees, can be legally punished for doing so. This can even apply to family members, and legal experts say perhaps also to think-tanks or journalists, or those on social media, who directly or indirectly advocate for sanctions.\nWe may not see the trigger pulled on that law immediately, but it shows just how much potential decoupling is being stored up ahead.And such decoupling is both very inflationary in some places, who will see supply shift back to them before they are ready, and very deflationary in others, who will see excess supply and no demand.The markets and central banks don’t want to see this geopolitical truth any more than they do the risk that inflation might be anything less than “transitory”.\nWhich brings me back to the opening riddle.\nHow many people were coming from St Ives? It looks like it takes math to work out: and do you include all the wives, and animals, and the man? However, the most common answer is: one -only the narrator was GOING to St Ives, and the others were coming FROM it.Sometimes the simplest answer is right there in front of our faces - but we like to try and hide it with math, cod-philosophy, and “because markets”.\nHappy Friday!","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>\"As I Was Going To St Ives\"... Why Today's G7 Meeting Is Important</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n\"As I Was Going To St Ives\"... Why Today's G7 Meeting Is Important\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-11 21:57 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.zerohedge.com/markets/i-was-going-st-ives-why-todays-g7-meeting-important?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29>zerohedge</a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\nAs I was going to St Ives...\n\n“As I was going to St. Ives, I met a man with(G)\n 7 wives; Each wife had(G)\n 7 sacks; Each sack had(G)\n 7 cats; Each cat had(G)\n 7 kits; Kits, cats, sacks, and wives, How...\n\n<a href=\"https://www.zerohedge.com/markets/i-was-going-st-ives-why-todays-g7-meeting-important?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".DJI":"道琼斯",".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index","SPY":"标普500ETF"},"source_url":"https://www.zerohedge.com/markets/i-was-going-st-ives-why-todays-g7-meeting-important?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1145537442","content_text":"As I was going to St Ives...\n\n“As I was going to St. Ives, I met a man with(G)\n 7 wives; Each wife had(G)\n 7 sacks; Each sack had(G)\n 7 cats; Each cat had(G)\n 7 kits; Kits, cats, sacks, and wives, How many were there going to St. Ives?”\n\nThis old English riddle is appropriate today givenG7 leaders’ (and wives, sacks, cats, and kits) are allinSt Ives, Cornwall – and traffic is murder as a result. Don’t even think about trying to get a cream tea there.\nThe multiplicative element of the riddle also seems appropriate given inflation keeps running hot – and the market keeps saying not.Yesterday’s US CPI report surprised to the upside, with headline inflation up 0.6% m/m and 5.0% y/y, while even core CPI was up 0.7% m/m and 3.8% y/y. “Sic transit(ory) in incremento pretiorum mundi,”said the US Treasury market, with10-year yields spiking 5bp to 1.53% - and then collapsing back to 1.43% againregardless. The riddle contained in *that* is perhaps answered by short-covering, and the market seeing this surge as still a re-opening related supply shock (used car prices, etc., etc.) with no wage response looming, and so it will end up as destructive of demand in the end. Moreover, the surge in US demand weareclearly seeing, until current stimulus runs out in a few months, and the ever-present monthly Fed QE largesse, is seeing exporters to the US make serious hay, and their FX reserve levels surge in tandem. Those dollars have to go somewhere other than meme-stonks and rude cryptos: welcome to the Treasury market!\nThat said, there might be more stimulus ahead than thought. Swing senator Manchin, and nine others, have proposed a newcompromise infrastructure fiscal package of $1.0 trillion over 5 years, with no tax hikes. It’s not the $4 trillion first floated over 10 years, but it’s hardly chopped liver at $200bn a year with no off-setting tax hikes – that is around 1% of US GDP alone. Might this move the Treasury needle, or will it be soothed at the climb-down and presumption that even if this happens, none of it will be Made in America, as promised?\nMeanwhile, back to the G7 and entourage. This is an important meeting:there is the 15% tax deal, and opt-outs; a global vaccine plan; the background chill over Northern Ireland and chilled meats; and some commentators see this as US President Biden’s last chance to get Canada and the EU to agree to side with him in what he calls ‘a struggle between democracies and autocracies’, which has the smell of Potsdam and Yalta to it. So, weighty matters.\nThen again, this G7 are no FDR, Churchill, and Stalin. We have Biden, with his Cold War vision; Suga of Japan, ramping up defence spending “dramatically” with a more muscular foreign policy; Moon of South Korea, traditionally more cautious, but edging closer to the US in some key areas; Morrison of Australia, giving Cold War/Churchillian speeches; and Modi of India, via Zoom, clearly leaning US, but obviously focused on Covid-19. But it also means renowned geostrategist Trudeau of Canada; “Sausage wars” Johnson of the UK; just-slapped-in-the-face Macron of France, where a recent poll shows more than half of voters think their political system is “broken”; Draghi of Italy, seen by markets as his country’s last hope, so with his hands already full; and Merkel of obstinately non-geopolitical Germany,today celebrating a test-run of gas through the Nord Stream 2 gas pipeline, and continuing to back doing as much business as possible with China. As such, we should temper expectations:not so much Potsdam and storms in a tea pot?\nYet the suggestion is that if the EU cannot muster enthusiasm to back the US and ‘democracies vs. autocracies’ now, they never will; and while US-EU relations will not then fall to the floor, as under the Trump administration, there will also be a low effective ceiling going forwards – which will matter hugely on many fronts over time. There are many ways to define this Atlantic drift, but perhaps the simplest way is that the US thinks ‘freedom isn’t free’, while the EU clings to the view that freedom is both free and free-trade. Notably, however,the EU has joined the US in calling on China to allow “complete access” for an independent investigation into the origins of Covid-19, which backs it on one particular --and contentious-- front. So we shall have to watch the G7 for further developments.\nMeanwhile, if anyone is thinking that curtains are coming down from only one side of a potential East-West divide,China yesterday passed a new law to push back against foreign sanctions. Legal countermeasures now available to it include \"refusal to issue visas, denial of entry, deportation... and sealing, seizing, andfreezing property of individuals or businesses that adhere to foreign sanctions against Chinese businesses or officials.\" In short, a Western bank or firmmustcomply with US sanctions or lose access to the US market – but now that bank or firm operating in China, and/or its employees, can be legally punished for doing so. This can even apply to family members, and legal experts say perhaps also to think-tanks or journalists, or those on social media, who directly or indirectly advocate for sanctions.\nWe may not see the trigger pulled on that law immediately, but it shows just how much potential decoupling is being stored up ahead.And such decoupling is both very inflationary in some places, who will see supply shift back to them before they are ready, and very deflationary in others, who will see excess supply and no demand.The markets and central banks don’t want to see this geopolitical truth any more than they do the risk that inflation might be anything less than “transitory”.\nWhich brings me back to the opening riddle.\nHow many people were coming from St Ives? It looks like it takes math to work out: and do you include all the wives, and animals, and the man? However, the most common answer is: one -only the narrator was GOING to St Ives, and the others were coming FROM it.Sometimes the simplest answer is right there in front of our faces - but we like to try and hide it with math, cod-philosophy, and “because markets”.\nHappy Friday!","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":4690426,"gmtCreate":1623420721487,"gmtModify":1663228486933,"authorId":3585038405943602,"author":{"id":3585038405943602,"idStr":"3585038405943602","authorId":3585038405943602,"name":"Ahleepapa","avatar":"https://static.tigerbbs.com/dcc1fea9c38112b58c68a2d96017330b","vip":1,"crmLevel":1,"crmLevelSwitch":1,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":188974296,"type":1,"supId":0,"prevId":0,"content":"Pls comment back thanks","text":"Pls comment back thanks","html":"Pls comment back thanks"}],"langContent":"EN"},{"id":188945341,"gmtCreate":1623420369883,"gmtModify":1704203212118,"author":{"id":"3574157578138399","authorId":"3574157578138399","name":"felixgoh","avatar":"https://static.tigerbbs.com/7c8b58788f010f411f510fa8ffc774b5","vip":1,"crmLevel":4,"crmLevelSwitch":0,"authorIdStr":"3574157578138399","idStr":"3574157578138399"},"htmlText":"Be nice","listText":"Be nice","text":"Be nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/188945341","repostId":1145537442,"repostType":4,"repost":{"id":"1145537442","kind":"news","pubTimestamp":1623419872,"share":"https://ttm.financial/m/news/1145537442?lang=&edition=fundamental","pubTime":"2021-06-11 21:57","market":"us","language":"en","title":"\"As I Was Going To St Ives\"... Why Today's G7 Meeting Is Important","url":"https://stock-news.laohu8.com/highlight/detail?id=1145537442","media":"zerohedge","summary":"As I was going to St Ives...\n\n“As I was going to St. Ives, I met a man with(G)\n 7 wives; Each wife h","content":"As I was going to St Ives...\n<blockquote>\n “As I was going to St. Ives, I met a man with(G)\n 7 wives; Each wife had(G)\n 7 sacks; Each sack had(G)\n 7 cats; Each cat had(G)\n 7 kits; Kits, cats, sacks, and wives, How many were there going to St. Ives?”\n</blockquote>\nThis old English riddle is appropriate today givenG7 leaders’ (and wives, sacks, cats, and kits) are allinSt Ives, Cornwall – and traffic is murder as a result. Don’t even think about trying to get a cream tea there.\nThe multiplicative element of the riddle also seems appropriate given inflation keeps running hot – and the market keeps saying not.Yesterday’s US CPI report surprised to the upside, with headline inflation up 0.6% m/m and 5.0% y/y, while even core CPI was up 0.7% m/m and 3.8% y/y. “Sic transit(ory) in incremento pretiorum mundi,”said the US Treasury market, with10-year yields spiking 5bp to 1.53% - and then collapsing back to 1.43% againregardless. The riddle contained in *that* is perhaps answered by short-covering, and the market seeing this surge as still a re-opening related supply shock (used car prices, etc., etc.) with no wage response looming, and so it will end up as destructive of demand in the end. Moreover, the surge in US demand weareclearly seeing, until current stimulus runs out in a few months, and the ever-present monthly Fed QE largesse, is seeing exporters to the US make serious hay, and their FX reserve levels surge in tandem. Those dollars have to go somewhere other than meme-stonks and rude cryptos: welcome to the Treasury market!\nThat said, there might be more stimulus ahead than thought. Swing senator Manchin, and nine others, have proposed a newcompromise infrastructure fiscal package of $1.0 trillion over 5 years, with no tax hikes. It’s not the $4 trillion first floated over 10 years, but it’s hardly chopped liver at $200bn a year with no off-setting tax hikes – that is around 1% of US GDP alone. Might this move the Treasury needle, or will it be soothed at the climb-down and presumption that even if this happens, none of it will be Made in America, as promised?\nMeanwhile, back to the G7 and entourage. This is an important meeting:there is the 15% tax deal, and opt-outs; a global vaccine plan; the background chill over Northern Ireland and chilled meats; and some commentators see this as US President Biden’s last chance to get Canada and the EU to agree to side with him in what he calls ‘a struggle between democracies and autocracies’, which has the smell of Potsdam and Yalta to it. So, weighty matters.\nThen again, this G7 are no FDR, Churchill, and Stalin. We have Biden, with his Cold War vision; Suga of Japan, ramping up defence spending “dramatically” with a more muscular foreign policy; Moon of South Korea, traditionally more cautious, but edging closer to the US in some key areas; Morrison of Australia, giving Cold War/Churchillian speeches; and Modi of India, via Zoom, clearly leaning US, but obviously focused on Covid-19. But it also means renowned geostrategist Trudeau of Canada; “Sausage wars” Johnson of the UK; just-slapped-in-the-face Macron of France, where a recent poll shows more than half of voters think their political system is “broken”; Draghi of Italy, seen by markets as his country’s last hope, so with his hands already full; and Merkel of obstinately non-geopolitical Germany,today celebrating a test-run of gas through the Nord Stream 2 gas pipeline, and continuing to back doing as much business as possible with China. As such, we should temper expectations:not so much Potsdam and storms in a tea pot?\nYet the suggestion is that if the EU cannot muster enthusiasm to back the US and ‘democracies vs. autocracies’ now, they never will; and while US-EU relations will not then fall to the floor, as under the Trump administration, there will also be a low effective ceiling going forwards – which will matter hugely on many fronts over time. There are many ways to define this Atlantic drift, but perhaps the simplest way is that the US thinks ‘freedom isn’t free’, while the EU clings to the view that freedom is both free and free-trade. Notably, however,the EU has joined the US in calling on China to allow “complete access” for an independent investigation into the origins of Covid-19, which backs it on one particular --and contentious-- front. So we shall have to watch the G7 for further developments.\nMeanwhile, if anyone is thinking that curtains are coming down from only one side of a potential East-West divide,China yesterday passed a new law to push back against foreign sanctions. Legal countermeasures now available to it include \"refusal to issue visas, denial of entry, deportation... and sealing, seizing, andfreezing property of individuals or businesses that adhere to foreign sanctions against Chinese businesses or officials.\" In short, a Western bank or firmmustcomply with US sanctions or lose access to the US market – but now that bank or firm operating in China, and/or its employees, can be legally punished for doing so. This can even apply to family members, and legal experts say perhaps also to think-tanks or journalists, or those on social media, who directly or indirectly advocate for sanctions.\nWe may not see the trigger pulled on that law immediately, but it shows just how much potential decoupling is being stored up ahead.And such decoupling is both very inflationary in some places, who will see supply shift back to them before they are ready, and very deflationary in others, who will see excess supply and no demand.The markets and central banks don’t want to see this geopolitical truth any more than they do the risk that inflation might be anything less than “transitory”.\nWhich brings me back to the opening riddle.\nHow many people were coming from St Ives? It looks like it takes math to work out: and do you include all the wives, and animals, and the man? However, the most common answer is: one -only the narrator was GOING to St Ives, and the others were coming FROM it.Sometimes the simplest answer is right there in front of our faces - but we like to try and hide it with math, cod-philosophy, and “because markets”.\nHappy Friday!","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>\"As I Was Going To St Ives\"... Why Today's G7 Meeting Is Important</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n\"As I Was Going To St Ives\"... Why Today's G7 Meeting Is Important\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-11 21:57 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.zerohedge.com/markets/i-was-going-st-ives-why-todays-g7-meeting-important?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29>zerohedge</a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\nAs I was going to St Ives...\n\n“As I was going to St. Ives, I met a man with(G)\n 7 wives; Each wife had(G)\n 7 sacks; Each sack had(G)\n 7 cats; Each cat had(G)\n 7 kits; Kits, cats, sacks, and wives, How...\n\n<a href=\"https://www.zerohedge.com/markets/i-was-going-st-ives-why-todays-g7-meeting-important?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".DJI":"道琼斯",".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index","SPY":"标普500ETF"},"source_url":"https://www.zerohedge.com/markets/i-was-going-st-ives-why-todays-g7-meeting-important?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1145537442","content_text":"As I was going to St Ives...\n\n“As I was going to St. Ives, I met a man with(G)\n 7 wives; Each wife had(G)\n 7 sacks; Each sack had(G)\n 7 cats; Each cat had(G)\n 7 kits; Kits, cats, sacks, and wives, How many were there going to St. Ives?”\n\nThis old English riddle is appropriate today givenG7 leaders’ (and wives, sacks, cats, and kits) are allinSt Ives, Cornwall – and traffic is murder as a result. Don’t even think about trying to get a cream tea there.\nThe multiplicative element of the riddle also seems appropriate given inflation keeps running hot – and the market keeps saying not.Yesterday’s US CPI report surprised to the upside, with headline inflation up 0.6% m/m and 5.0% y/y, while even core CPI was up 0.7% m/m and 3.8% y/y. “Sic transit(ory) in incremento pretiorum mundi,”said the US Treasury market, with10-year yields spiking 5bp to 1.53% - and then collapsing back to 1.43% againregardless. The riddle contained in *that* is perhaps answered by short-covering, and the market seeing this surge as still a re-opening related supply shock (used car prices, etc., etc.) with no wage response looming, and so it will end up as destructive of demand in the end. Moreover, the surge in US demand weareclearly seeing, until current stimulus runs out in a few months, and the ever-present monthly Fed QE largesse, is seeing exporters to the US make serious hay, and their FX reserve levels surge in tandem. Those dollars have to go somewhere other than meme-stonks and rude cryptos: welcome to the Treasury market!\nThat said, there might be more stimulus ahead than thought. Swing senator Manchin, and nine others, have proposed a newcompromise infrastructure fiscal package of $1.0 trillion over 5 years, with no tax hikes. It’s not the $4 trillion first floated over 10 years, but it’s hardly chopped liver at $200bn a year with no off-setting tax hikes – that is around 1% of US GDP alone. Might this move the Treasury needle, or will it be soothed at the climb-down and presumption that even if this happens, none of it will be Made in America, as promised?\nMeanwhile, back to the G7 and entourage. This is an important meeting:there is the 15% tax deal, and opt-outs; a global vaccine plan; the background chill over Northern Ireland and chilled meats; and some commentators see this as US President Biden’s last chance to get Canada and the EU to agree to side with him in what he calls ‘a struggle between democracies and autocracies’, which has the smell of Potsdam and Yalta to it. So, weighty matters.\nThen again, this G7 are no FDR, Churchill, and Stalin. We have Biden, with his Cold War vision; Suga of Japan, ramping up defence spending “dramatically” with a more muscular foreign policy; Moon of South Korea, traditionally more cautious, but edging closer to the US in some key areas; Morrison of Australia, giving Cold War/Churchillian speeches; and Modi of India, via Zoom, clearly leaning US, but obviously focused on Covid-19. But it also means renowned geostrategist Trudeau of Canada; “Sausage wars” Johnson of the UK; just-slapped-in-the-face Macron of France, where a recent poll shows more than half of voters think their political system is “broken”; Draghi of Italy, seen by markets as his country’s last hope, so with his hands already full; and Merkel of obstinately non-geopolitical Germany,today celebrating a test-run of gas through the Nord Stream 2 gas pipeline, and continuing to back doing as much business as possible with China. As such, we should temper expectations:not so much Potsdam and storms in a tea pot?\nYet the suggestion is that if the EU cannot muster enthusiasm to back the US and ‘democracies vs. autocracies’ now, they never will; and while US-EU relations will not then fall to the floor, as under the Trump administration, there will also be a low effective ceiling going forwards – which will matter hugely on many fronts over time. There are many ways to define this Atlantic drift, but perhaps the simplest way is that the US thinks ‘freedom isn’t free’, while the EU clings to the view that freedom is both free and free-trade. Notably, however,the EU has joined the US in calling on China to allow “complete access” for an independent investigation into the origins of Covid-19, which backs it on one particular --and contentious-- front. So we shall have to watch the G7 for further developments.\nMeanwhile, if anyone is thinking that curtains are coming down from only one side of a potential East-West divide,China yesterday passed a new law to push back against foreign sanctions. Legal countermeasures now available to it include \"refusal to issue visas, denial of entry, deportation... and sealing, seizing, andfreezing property of individuals or businesses that adhere to foreign sanctions against Chinese businesses or officials.\" In short, a Western bank or firmmustcomply with US sanctions or lose access to the US market – but now that bank or firm operating in China, and/or its employees, can be legally punished for doing so. This can even apply to family members, and legal experts say perhaps also to think-tanks or journalists, or those on social media, who directly or indirectly advocate for sanctions.\nWe may not see the trigger pulled on that law immediately, but it shows just how much potential decoupling is being stored up ahead.And such decoupling is both very inflationary in some places, who will see supply shift back to them before they are ready, and very deflationary in others, who will see excess supply and no demand.The markets and central banks don’t want to see this geopolitical truth any more than they do the risk that inflation might be anything less than “transitory”.\nWhich brings me back to the opening riddle.\nHow many people were coming from St Ives? It looks like it takes math to work out: and do you include all the wives, and animals, and the man? However, the most common answer is: one -only the narrator was GOING to St Ives, and the others were coming FROM it.Sometimes the simplest answer is right there in front of our faces - but we like to try and hide it with math, cod-philosophy, and “because markets”.\nHappy Friday!","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":4690324,"gmtCreate":1623420520673,"gmtModify":1663228484526,"authorId":3580355796514917,"author":{"id":3580355796514917,"idStr":"3580355796514917","authorId":3580355796514917,"name":"Futou","avatar":"https://static.tigerbbs.com/916825842b25f5fe80b5e37afe6ec221","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":188945341,"type":1,"supId":0,"prevId":0,"content":"Like","text":"Like","html":"Like"}],"langContent":"EN"}],"hasMoreComments":true,"newsSizeData":{"likeSize":100,"commentSize":21,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false}}