Coincident with the CRB index touching 300 for the first time since Oct ’08, the two main commodity currencies the Aussie$ and Canadian$ today are a stones throw from being worth the exact same amount as the US$. For the Aussie$ it will be the first time ever and for the C$ it will be for the first time since April. On the inflation front, the implied inflation rate in the 10 yr TIPS is now above 2% at 2.03% for the first time since June. The 5 yr 5yr breakeven is moving to the highest since May at 2.66%.
Read this next.
Previous PostGrinding It Out