Nansen’s take

The most relevant macro question at the moment has to be: are we moving to a regime of lower inflation that will lead to a less marked growth differential between countries with a net energy trade deficit and net energy exporters? And what are the implications for global monetary policy? A lower growth differential between the US and Europe / Japan would be significant for the direction of monetary policy (supposedly less hawkish Fed).

We also look at price momentum of crypto vs other assets to assess whether prices are stabilizing (despite negative fundamentals) or deteriorating following the bearish developments post-FTX bankruptcy.

What is happening to oil and what implications for inflation?

Crude oil fell ~7.5%...