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- JamesyongJamesyong
  ·2021-07-16
  power
  SMEs post sharp recovery in the second quarter<blockquote>中小企业第二季度大幅复苏</blockquote>
  The OCBC SME Index shoots by 8.3 points to 59.5 as small and medium-sized enterprises gain momentum.
  SMEs post sharp recovery in the second quarter<blockquote>中小企业第二季度大幅复苏</blockquote>
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- JamesyongJamesyong
  ·2021-07-16
  power
  One Bank's Non-Transitory Inflation Meter Just Exploded<blockquote>一家银行的非暂时性通胀指标刚刚爆炸</blockquote>
  One month ago we reported that Bank of America had released a new proprietary indicator tracking the
  One Bank's Non-Transitory Inflation Meter Just Exploded<blockquote>一家银行的非暂时性通胀指标刚刚爆炸</blockquote>
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This is the second quarter that the index turned expansionary.</p><p><blockquote>最新的华侨银行中小企业指数第二季度上升8.3点至59.5，而第一季度为41.2。这是该指数第二个季度转为扩张性。</blockquote></p><p> In a statement, OCBC said that collections across the 100,000 SMEs represented in its index grew 6% quarter on quarter, driven by improved cross-border trade with Greater China and the ASEAN.</p><p><blockquote>华侨银行在一份声明中表示，受与大中华区和东盟跨境贸易改善的推动，其指数中10万家中小企业的收款环比增长6%。</blockquote></p><p> This offset the continued drag from Food and Beverage and Business Services sectors, which were greatly affected by the restrictions implemented during the Phase 2 (Heightened Alert) period.</p><p><blockquote>这抵消了食品和饮料以及商业服务行业的持续拖累，这些行业受到第二阶段（高度警戒）期间实施的限制的严重影响。</blockquote></p><p> “The promising recovery in SMEs over the past year was supported by a rapid shift towards digitalisation and e-commerce. SMEs are also better poised to emerge from the crisis, building on the strength of Singapore as a growing hub in the post-pandemic time for the services industry, the changing supply chains and the emerging green economy,” said Linus Goh, head of&nbsp;Global Commercial Banking for OCBC Bank.</p><p><blockquote>“华侨银行全球商业银行业务主管 Linus Goh 表示：”过去一年，中小企业的良好复苏得益于向数字化和电子商务的快速转变。新加坡作为后大流行病时代服务业、不断变化的供应链和新兴绿色经济的日益增长的枢纽，中小企业也能更好地从危机中脱颖而出。</blockquote></p><p> The continued demand for medical equipment and the vaccine rollout led to a strong performance from the healthcare manufacturing sub-industry, whose index score rose to 50.0 from the 48.1 recorded in the previous quarter.</p><p><blockquote>对医疗设备的持续需求和疫苗的推出导致医疗保健制造子行业的强劲表现，其指数得分从上一季度的48.1上升至50.0。</blockquote></p><p> The ICT services sub-index benefited from the demand for digitalisation, with the data processing and software development sector recording a 22% quarter-on-quarter growth in revenue collections.</p><p><blockquote>ICT服务分指数受益于数字化需求，数据处理和软件开发行业的收入环比增长22%。</blockquote></p><p></p>","source":"lsy1618986048053","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>SMEs post sharp recovery in the second quarter<blockquote>中小企业第二季度大幅复苏</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSMEs post sharp recovery in the second quarter<blockquote>中小企业第二季度大幅复苏</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Singapore Business</strong><span class=\"h-time small\">2021-07-16 09:48</span>\n</p>\n</h4>\n</header>\n<article>\n<p>  <b><i>The OCBC SME Index shoots by 8.3 points to 59.5 as small and medium-sized enterprises gain momentum.</i></b>  Small and medium-sized enterprises (SMEs) were resilient in the second quarter amidst the pandemic and the Heightened Alert measures.</p><p><blockquote><b><i>随着中小企业势头增强，华侨银行中小企业指数飙升8.3点至59.5。</i></b>在疫情和加强警戒措施的背景下，中小企业在第二季度表现出韧性。</blockquote></p><p> The latest OCBC SME Index saw an 8.3 point rise to 59.5 for the second quarter, compared to the 41.2 from the first quarter. This is the second quarter that the index turned expansionary.</p><p><blockquote>最新的华侨银行中小企业指数第二季度上升8.3点至59.5，而第一季度为41.2。这是该指数第二个季度转为扩张性。</blockquote></p><p> In a statement, OCBC said that collections across the 100,000 SMEs represented in its index grew 6% quarter on quarter, driven by improved cross-border trade with Greater China and the ASEAN.</p><p><blockquote>华侨银行在一份声明中表示，受与大中华区和东盟跨境贸易改善的推动，其指数中10万家中小企业的收款环比增长6%。</blockquote></p><p> This offset the continued drag from Food and Beverage and Business Services sectors, which were greatly affected by the restrictions implemented during the Phase 2 (Heightened Alert) period.</p><p><blockquote>这抵消了食品和饮料以及商业服务行业的持续拖累，这些行业受到第二阶段（高度警戒）期间实施的限制的严重影响。</blockquote></p><p> “The promising recovery in SMEs over the past year was supported by a rapid shift towards digitalisation and e-commerce. SMEs are also better poised to emerge from the crisis, building on the strength of Singapore as a growing hub in the post-pandemic time for the services industry, the changing supply chains and the emerging green economy,” said Linus Goh, head of&nbsp;Global Commercial Banking for OCBC Bank.</p><p><blockquote>“华侨银行全球商业银行业务主管 Linus Goh 表示：”过去一年，中小企业的良好复苏得益于向数字化和电子商务的快速转变。新加坡作为后大流行病时代服务业、不断变化的供应链和新兴绿色经济的日益增长的枢纽，中小企业也能更好地从危机中脱颖而出。</blockquote></p><p> The continued demand for medical equipment and the vaccine rollout led to a strong performance from the healthcare manufacturing sub-industry, whose index score rose to 50.0 from the 48.1 recorded in the previous quarter.</p><p><blockquote>对医疗设备的持续需求和疫苗的推出导致医疗保健制造子行业的强劲表现，其指数得分从上一季度的48.1上升至50.0。</blockquote></p><p> The ICT services sub-index benefited from the demand for digitalisation, with the data processing and software development sector recording a 22% quarter-on-quarter growth in revenue collections.</p><p><blockquote>ICT服务分指数受益于数字化需求，数据处理和软件开发行业的收入环比增长22%。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://sbr.com.sg/in-focus/smes-post-sharp-recovery-in-second-quarter\">Singapore Business</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"STI.SI":"富时新加坡海峡指数"},"source_url":"https://sbr.com.sg/in-focus/smes-post-sharp-recovery-in-second-quarter","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1140693508","content_text":"The OCBC SME Index shoots by 8.3 points to 59.5 as small and medium-sized enterprises gain momentum.\n\nSmall and medium-sized enterprises (SMEs) were resilient in the second quarter amidst the pandemic and the Heightened Alert measures.\nThe latest OCBC SME Index saw an 8.3 point rise to 59.5 for the second quarter, compared to the 41.2 from the first quarter. This is the second quarter that the index turned expansionary.\nIn a statement, OCBC said that collections across the 100,000 SMEs represented in its index grew 6% quarter on quarter, driven by improved cross-border trade with Greater China and the ASEAN.\nThis offset the continued drag from Food and Beverage and Business Services sectors, which were greatly affected by the restrictions implemented during the Phase 2 (Heightened Alert) period.\n“The promising recovery in SMEs over the past year was supported by a rapid shift towards digitalisation and e-commerce. SMEs are also better poised to emerge from the crisis, building on the strength of Singapore as a growing hub in the post-pandemic time for the services industry, the changing supply chains and the emerging green economy,” said Linus Goh, head of Global Commercial Banking for OCBC Bank.\nThe continued demand for medical equipment and the vaccine rollout led to a strong performance from the healthcare manufacturing sub-industry, whose index score rose to 50.0 from the 48.1 recorded in the previous quarter.\nThe ICT services sub-index benefited from the demand for digitalisation, with the data processing and software development sector recording a 22% quarter-on-quarter growth in revenue collections.","news_type":1,"symbols_score_info":{"STI.SI":0.9}},"isVote":1,"tweetType":1,"viewCount":2325,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":170977768,"gmtCreate":1626402104854,"gmtModify":1633927067560,"author":{"id":"4088920533402850","authorId":"4088920533402850","name":"Jamesyong","avatar":"https://static.tigerbbs.com/2ab908c8d5f51b90e7fefc693291bd17","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4088920533402850","idStr":"4088920533402850"},"themes":[],"title":"","htmlText":"power","listText":"power","text":"power","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/170977768","repostId":"1122107992","repostType":4,"repost":{"id":"1122107992","kind":"news","pubTimestamp":1626400291,"share":"https://www.laohunote.com/m/news/1122107992?lang=zh_CN&edition=full","pubTime":"2021-07-16 09:51","market":"us","language":"en","title":"One Bank's Non-Transitory Inflation Meter Just Exploded<blockquote>一家银行的非暂时性通胀指标刚刚爆炸</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1122107992","media":"zerohedge","summary":"One month ago we reported that Bank of America had released a new proprietary indicator tracking the","content":"<p>One month ago we reported that Bank of America had released a new proprietary indicator tracking the level of transitory inflation, which incidentally was at the highest possible reading of 100.</p><p><blockquote>一个月前，我们报道了美国银行发布了一个新的专有指标来跟踪暂时性通胀水平，顺便说一句，该指标是100的最高读数。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/ff143ecaa5048b85057495194244af83\" tg-width=\"707\" tg-height=\"317\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> Of course, since then it's only gotten worse and the June CPI report released earlier this week revealed another explosion in transitory price pressures. Used cars, new cars, lodging, and transportation services together accounted for 70bp of the 88bp increase in broader core CPI as discussed previously. As a result, core CPI surged 0.9% mom in June: these components primarily reflected the price pressures from goods shortages and the reopening. To no surprise, the BofA US transitory inflation meter (TIM) remained at 100 this month, because it simply couldn't rise any further.</p><p><blockquote>当然，自那以后情况只会变得更糟，本周早些时候发布的 6 月份 CPI 报告显示，暂时性价格压力再次爆发。如前所述，二手车、新车、住宿和运输服务合计占更广泛核心 CPI 上涨 88 个基点中的 70 个基点。因此，6月份核心CPI环比飙升0.9%：这些组成部分主要反映了商品短缺和重新开放带来的价格压力。毫不奇怪，美国银行的美国临时通胀指标（TIM）本月保持在100，因为它根本无法进一步上升。</blockquote></p><p> But while the transitory strength in inflation took the spotlight, another development in the June CPI report - which we had discussedextensively before- was a strong 0.32% increase in owners’ equivalent rent (OER) which is a far stickier source of inflation and whichGoldman sees hitting 4% around the end of 2022.</p><p><blockquote>不过，虽然通胀的暂时性强劲成为人们关注的焦点，但 6 月份 CPI 报告中的另一个进展--我们之前曾对此进行过广泛讨论--是业主等值租金（OER）强劲增长 0.32%，这是一个更具粘性的通胀来源，高盛预计 2022 年底左右将达到 4%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/29e8197cd3b3f73d48338d5b01164364\" tg-width=\"960\" tg-height=\"604\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> In other words, persistent inflation looks to be rising sharply as well.</p><p><blockquote>换句话说，持续通胀看起来也在急剧上升。</blockquote></p><p> This, as Bank of America economist Alex Lin writes today, highlights the importance of being able to track persistent inflation while keeping transitory inflation in perspective.</p><p><blockquote>正如美国银行经济学家亚历克斯·林（Alex Lin）今天所写的那样，这凸显了能够跟踪持续通胀同时关注短暂通胀的重要性。</blockquote></p><p> So to get a more complete picture of current inflation dynamics, BofA has revised its transitory inflation meter with the BofA US Persistent Inflation Meter (PIM), and here, a shock:<b>it soared to 75 in June from 37 in May, indicating elevated</b><b><u>persistent</u></b><b>, as in non-transitory,&nbsp; inflation.</b></p><p><blockquote>因此，为了更完整地了解当前的通胀动态，美国银行用美国银行美国持续通胀指标 (PIM) 修订了其暂时性通胀指标，以下是一个令人震惊的结果：<b>从5月份的37个飙升至6月份的75个，表明有所上升</b><b><u>持续存在的</u></b><b>如非暂时性通货膨胀。</b></blockquote></p><p> <img src=\"https://static.tigerbbs.com/cc907b44c17cb542b759a78f8c15f76d\" tg-width=\"713\" tg-height=\"438\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> This confirms that contrary to its best wishes, the Fed already has a major headache on its hands. Furthermore, as Deutsche Bank pointed out earlier this week,<b>Wall Street consensus inflation expectations for 2022 are already well above 2%,</b>which is impossible if inflation is transitory and if there is going to be a deflationary phase after the current burst in transitory inflation ends.</p><p><blockquote>这证实了与美联储最美好的愿望相反，美联储已经面临着一个非常头疼的问题。此外，正如德意志银行本周早些时候指出的那样，<b>华尔街对 2022 年通胀的普遍预期已经远高于 2%，</b>如果通货膨胀是短暂的，并且在当前的短暂通货膨胀爆发结束后会有一个通货紧缩阶段，这是不可能的。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/92086971b86a9511afb50387980e3995\" tg-width=\"720\" tg-height=\"448\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> In other words, the Fed is again wrong and sooner or later, 10Y yields which continue to pretend that everything is fine, will face a day of very painful reckoning.</p><p><blockquote>换句话说，美联储又错了，继续假装一切都很好的10年期国债收益率迟早会面临非常痛苦的清算。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>One Bank's Non-Transitory Inflation Meter Just Exploded<blockquote>一家银行的非暂时性通胀指标刚刚爆炸</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nOne Bank's Non-Transitory Inflation Meter Just Exploded<blockquote>一家银行的非暂时性通胀指标刚刚爆炸</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">zerohedge</strong><span class=\"h-time small\">2021-07-16 09:51</span>\n</p>\n</h4>\n</header>\n<article>\n<p>One month ago we reported that Bank of America had released a new proprietary indicator tracking the level of transitory inflation, which incidentally was at the highest possible reading of 100.</p><p><blockquote>一个月前，我们报道了美国银行发布了一个新的专有指标来跟踪暂时性通胀水平，顺便说一句，该指标是100的最高读数。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/ff143ecaa5048b85057495194244af83\" tg-width=\"707\" tg-height=\"317\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> Of course, since then it's only gotten worse and the June CPI report released earlier this week revealed another explosion in transitory price pressures. Used cars, new cars, lodging, and transportation services together accounted for 70bp of the 88bp increase in broader core CPI as discussed previously. As a result, core CPI surged 0.9% mom in June: these components primarily reflected the price pressures from goods shortages and the reopening. To no surprise, the BofA US transitory inflation meter (TIM) remained at 100 this month, because it simply couldn't rise any further.</p><p><blockquote>当然，自那以后情况只会变得更糟，本周早些时候发布的 6 月份 CPI 报告显示，暂时性价格压力再次爆发。如前所述，二手车、新车、住宿和运输服务合计占更广泛核心 CPI 上涨 88 个基点中的 70 个基点。因此，6月份核心CPI环比飙升0.9%：这些组成部分主要反映了商品短缺和重新开放带来的价格压力。毫不奇怪，美国银行的美国临时通胀指标（TIM）本月保持在100，因为它根本无法进一步上升。</blockquote></p><p> But while the transitory strength in inflation took the spotlight, another development in the June CPI report - which we had discussedextensively before- was a strong 0.32% increase in owners’ equivalent rent (OER) which is a far stickier source of inflation and whichGoldman sees hitting 4% around the end of 2022.</p><p><blockquote>不过，虽然通胀的暂时性强劲成为人们关注的焦点，但 6 月份 CPI 报告中的另一个进展--我们之前曾对此进行过广泛讨论--是业主等值租金（OER）强劲增长 0.32%，这是一个更具粘性的通胀来源，高盛预计 2022 年底左右将达到 4%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/29e8197cd3b3f73d48338d5b01164364\" tg-width=\"960\" tg-height=\"604\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> In other words, persistent inflation looks to be rising sharply as well.</p><p><blockquote>换句话说，持续通胀看起来也在急剧上升。</blockquote></p><p> This, as Bank of America economist Alex Lin writes today, highlights the importance of being able to track persistent inflation while keeping transitory inflation in perspective.</p><p><blockquote>正如美国银行经济学家亚历克斯·林（Alex Lin）今天所写的那样，这凸显了能够跟踪持续通胀同时关注短暂通胀的重要性。</blockquote></p><p> So to get a more complete picture of current inflation dynamics, BofA has revised its transitory inflation meter with the BofA US Persistent Inflation Meter (PIM), and here, a shock:<b>it soared to 75 in June from 37 in May, indicating elevated</b><b><u>persistent</u></b><b>, as in non-transitory,&nbsp; inflation.</b></p><p><blockquote>因此，为了更完整地了解当前的通胀动态，美国银行用美国银行美国持续通胀指标 (PIM) 修订了其暂时性通胀指标，以下是一个令人震惊的结果：<b>从5月份的37个飙升至6月份的75个，表明有所上升</b><b><u>持续存在的</u></b><b>如非暂时性通货膨胀。</b></blockquote></p><p> <img src=\"https://static.tigerbbs.com/cc907b44c17cb542b759a78f8c15f76d\" tg-width=\"713\" tg-height=\"438\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> This confirms that contrary to its best wishes, the Fed already has a major headache on its hands. Furthermore, as Deutsche Bank pointed out earlier this week,<b>Wall Street consensus inflation expectations for 2022 are already well above 2%,</b>which is impossible if inflation is transitory and if there is going to be a deflationary phase after the current burst in transitory inflation ends.</p><p><blockquote>这证实了与美联储最美好的愿望相反，美联储已经面临着一个非常头疼的问题。此外，正如德意志银行本周早些时候指出的那样，<b>华尔街对 2022 年通胀的普遍预期已经远高于 2%，</b>如果通货膨胀是短暂的，并且在当前的短暂通货膨胀爆发结束后会有一个通货紧缩阶段，这是不可能的。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/92086971b86a9511afb50387980e3995\" tg-width=\"720\" tg-height=\"448\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> In other words, the Fed is again wrong and sooner or later, 10Y yields which continue to pretend that everything is fine, will face a day of very painful reckoning.</p><p><blockquote>换句话说，美联储又错了，继续假装一切都很好的10年期国债收益率迟早会面临非常痛苦的清算。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.zerohedge.com/economics/one-banks-non-transitory-inflation-meter-just-exploded\">zerohedge</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"SPY":"标普500ETF",".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index",".DJI":"道琼斯","BAC":"美国银行"},"source_url":"https://www.zerohedge.com/economics/one-banks-non-transitory-inflation-meter-just-exploded","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1122107992","content_text":"One month ago we reported that Bank of America had released a new proprietary indicator tracking the level of transitory inflation, which incidentally was at the highest possible reading of 100.\n\nOf course, since then it's only gotten worse and the June CPI report released earlier this week revealed another explosion in transitory price pressures. Used cars, new cars, lodging, and transportation services together accounted for 70bp of the 88bp increase in broader core CPI as discussed previously. As a result, core CPI surged 0.9% mom in June: these components primarily reflected the price pressures from goods shortages and the reopening. To no surprise, the BofA US transitory inflation meter (TIM) remained at 100 this month, because it simply couldn't rise any further.\nBut while the transitory strength in inflation took the spotlight, another development in the June CPI report - which we had discussedextensively before- was a strong 0.32% increase in owners’ equivalent rent (OER) which is a far stickier source of inflation and whichGoldman sees hitting 4% around the end of 2022.\n\nIn other words, persistent inflation looks to be rising sharply as well.\nThis, as Bank of America economist Alex Lin writes today, highlights the importance of being able to track persistent inflation while keeping transitory inflation in perspective.\nSo to get a more complete picture of current inflation dynamics, BofA has revised its transitory inflation meter with the BofA US Persistent Inflation Meter (PIM), and here, a shock:it soared to 75 in June from 37 in May, indicating elevatedpersistent, as in non-transitory,  inflation.\n\nThis confirms that contrary to its best wishes, the Fed already has a major headache on its hands. Furthermore, as Deutsche Bank pointed out earlier this week,Wall Street consensus inflation expectations for 2022 are already well above 2%,which is impossible if inflation is transitory and if there is going to be a deflationary phase after the current burst in transitory inflation ends.\n\nIn other words, the Fed is again wrong and sooner or later, 10Y yields which continue to pretend that everything is fine, will face a day of very painful reckoning.","news_type":1,"symbols_score_info":{".SPX":0.9,"SPY":0.9,".IXIC":0.9,"BAC":0.9,".DJI":0.9}},"isVote":1,"tweetType":1,"viewCount":2115,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"defaultTab":"posts","isTTM":false}