The unbearable tightness to be?

Slide deck: https://bit.ly/3zvuIcS   - Today we look at the market tilting hard to the downside in the wake of the ECB meeting yesterday, after the meeting jolted EU interest rates higher, with a blowout in peripheral spreads spoiling the recent euro rally and sending the single currency tumbling by day's end. We also look at the market eyeing today's US CPI release with trepidation, as a strong core rate in particular could further spook markets on the need to price even more tightening from the Fed as hopes for inflation rolling over may be spoiled for now. Thoughts on grains, gold, Tesla in trouble and more on today's pod, which features Peter Garnry on equities, Ole Hansen on commodities and John J. Hardy hosting and on FX. Intro and outro music by AShamaluevMusic