Hey everybody, welcome to the Real Vision Daily briefing. It's Wednesday, January 12th, 2022.

This is Alf, the author of the macro compass, and I'm here with the one and only Tarius Dale,

founder and CEO of 42 macro. Hey mate, how are you doing?

Good man, it's good that the dream team back, man. How you doing?

The dream team, did you actually trademark that? No, someone else tweeted that earlier today,

man, some paraphrasing.

We can live with that, by the way. So the news of the day is obviously CPI inflation in America,

7% year on year. Are you springed, I guess, in 40 years or so? Month on month core to clean up a

little bit of the noise is 0.6%, which is still relatively robust, but not growing anymore,

incrementally, month on month. Real wage is down. As a result, I mean nominal wages are up,

inflation is higher, even more. So real wage is actually drop. Market reaction,

well, yields are unimpressed. They're unchanged. Actually, 10 yields are down from the peak of 1.8%,

they're hovering around 1.72, 73%. The front end though is pricing almost four hikes by the fed.

Interestingly, I should add, the euro dollar is rallying. Quite interesting, I would say,

and all the assets that were hammered down last week, the NASDAQ Bitcoin actually start to

overperform once again, and commodities on the other hand are still rallying. So quite a lot of

stuff going on. We try to unpack for our listeners today. What do you think of the overall market

reaction and the inflation print, Darius? Yeah, I thought the market reaction was sort of,

you typically see this in sort of micro, sort of investing with earnings and things like that,

where there's sort of a whisper number, if you will, on the buy side, in terms of what investors

are expecting relative to what economists are expecting. And I think the biggest takeaway is that,

you know, this print didn't surprise to the upside, certainly not in the material fashion.

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