Eurodollar University - What Is It All About?

The Dallas Fed Texas Regional Manufacturing Survey fell to minus 18.8, which is really in the same low territory that it's been for several months. What was the inventory cycle? Well very briefly, it was inflation. So we had an import global wave of demand rebounding much quicker than the ability of the supply either here or around the rest of the world to meet that. That stressed and strained the supply chains because you had to move goods that were being made from China, didn't lock down.

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