Rate expectations near cycle low ahead of US CPI

Today's slide deck: https://bit.ly/2RzJzzc   - Today we look at a very quiet market, but with the general sense that investors are holding their breath for next week's FOMC meeting, where despite all of the inflation talk and signs of a white-hot US economy and massive demand for labor, the Fed rate expectations are pegged near multi-month lows. For crude oil, we look at factors completely outside of fundamentals that could be helping the oil market rally here as both Brent and WTI have posted new highs for the cycle. Much more on the call, including the much cloudier fiscal outlook in the US. On today's pod were Ole Hansen on commodities and John J. Hardy hosting and on FX. Intro and outro music by AShamaluevMusic