The boom didn’t boom and more and more that isolation grows fanatical (though not the past few days). Oil prices are now being directly opposed by very important financial prices and indications. Copper is down, gold, too, the eurodollar curve inverted, and global bond markets are getting that same deflationary itch we’ve seen four times already through the last eleven years.
This is how on a day when the CPI reaches the highest level since February 2012 nothing of any importance is moved by that fact. We’ve seen this movie before.