BRIC by BRICS

Inflation print came in a lot cooler last week, which leaves some odd balls to believe the Fed's chance of navigating a soft landing has actually increased. However, if you actually examine the CPI basket of goods and see the drivers of inflation, the news really isn't that good. Better than last month, I'll admit; but still not good. Additionally, international trade agreements are starting to gain momentum as BRICS and the NDB are starting to attract suitors. Now the 'developed' world has some competition.

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