Druck calls imminent hard landing. US CPI matters less jobs.

Responses to our new weekly Saxo Market Call Survey are pouring in. If you haven't accessed the survey yet, don't miss out on your chance to provide feedback and drive the content this Friday's podcast:  https://bit.ly/42jEiLg   - Link to slide deck: https://bit.ly/3nM683M   - In today's podcast, we note that, while today's US CPI release is the US data highlight of the week, that it is unlikely to drive a significant shift in forward Fed expectations unless there is a rather profound shock in the numbers (more likely on a hot number than a cooler one). Elsewhere, we talk Stanley Druckenmiller's imminent recession and "hard landing" call, the dire situation for US office REITS and dark clouds over Blackstone on the commercial real estate worries made worse by the recent bank turmoil, crude oil & grains, incoming earnings, and much more. Today's pod features Peter Garnry on equities, Ole Hansen on commodities and John J. Hardy hosting and on FX. Read daily in-depth market updates from the Saxo Market Call and Saxo Strategy Team here. Click here to open an account with Saxo   - Intro and outro music by AShamaluevMusic