MacroVoices #387 Jeff Snider: On Deflation and Soft Landing
Macro Voices
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The German Market and the US Treasury Curve
Germany and Europe are already in a deflationary recession, which makes sense from Germany's perspective because that's a bellwether. We see the exact same thing in the German market that you see in US treasuries going back to last October. The biggest problem is probably China. You've got one of the worst export numbers in economic history for June on page 51. At the same time, Chinese markets are forward pricing as well as lack of demand.
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