TOFU Futures Update

The Fed and ECB maintained a hawkish stance but the market pumped anyways. This is beginning to look like a bull flag on tofu futures.

The problem is, the Fed never reduced their balance sheet so there's too much money floating around. federalreserve.gov/monetarypolicy/bst_recenttrends.htm

Get ready for rebound inflation later this year. In fact, it may even show up in June numbers next month. The inflation battle isn't over yet, but enjoy the bull ride until the numbers come out.