"Disinflation" has been popping up in analyst notes all over the place:
- UBS says the global economic story is very clear - disinflation pressures being kept alive
- Morgan Stanley says the US is in a disinflationary process, lower their inflation forecast
Bank of America are on board:
- The August CPI, PPI & retail sales data leave our core views unchanged. Disinflation is on track and the consumer is resilient.
- The Fed's message ... is likely to be balanced. The dots for 2024 and beyond should show slower cuts and a higher r*.
BoA do have 2 concerns though:
- the recent UAW strike which has shut down auto production
- chances of a government shutdown on October 1 are rising
Dis inflation, dat inflation.
