Morning,Markets are down, Vix is up but still an hour to go.UK...

Morning,

Markets are down, Vix is up but still an hour to go.

UK inflation higher than expected by the fake news, June rate cut hopes dashed.
https://www.msn.com/en-gb/money/other/uk-inflation-falls-less-than-expected-dashing-june-rate-cut-hopes/ar-BB1mQ7uo

FED minutes indicate worries about lack of progress on inflation too.....
" Participants observed that while inflation had eased over the past year, in recent months there had been a lack of further progress toward the Committee’s 2 percent objective,” the summary stated."
" The minutes also showed “various participants mentioned a willingness to tighten policy further should risks to inflation materialize in a way that such an action became appropriate.”
https://www.cnbc.com/2024/05/22/fed-minutes-may-2024-.html

Personally, i can't believe people talk of rate cuts because they should be talking hikes due to the low levels of interest rates, the point is if your going to print money rather than create wealth then your going to need a higher interest rate or a higher bribe on the fiat currency, thats just how it is folks as numbers only work one way, western governments need to change their policies if you want interest rates to come down sustainably. To think one can print, borrow, spend and have large deficits is simply delusional in the world we live in today.

Uk's Rishi calls for July 4th election ! Lol
https://www.cnbc.com/2024/05/22/uk-pm-rishi-sunak-calls-for-july-4-general-election-sky-news-reports.html

Oil down, Gold down, Silver down, copper down.

More on FED minutes here....https://www.zerohedge.com/markets/fomc-16






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