The below is from a recent edition of Bitcoin Magazine Pro, Bitcoin Magazine’s premium markets newsletter.
We recently received the United States Bureau of Labor Statistics inflation data for the month of March, which came in at a red hot 8.56% year-over-year .
Together, the increasing inflation rate and the 10-year treasury yields create what we think is the most important macroeconomic chart right now.
Core CPI, which removes energy and food and is more closely watched by the Federal Reserve and markets, shows a month-over-month deceleration indicating that some inflation components could be turning over.
While this is not a research product that gives explicit trading signals, we do frequently present our data-driven outlook across timeframes.
The negative real-yield environment the economic system finds itself in today is an inescapable reality that comes in the late stages of a long-term debt cycle.