Phew, that was close. Fed officials are seldom as blunt as Christopher Waller was when yesterday he was quoted as saying that rates would have to rise in inflation came in hotter that expected in today's CPI report. Thankfully, it didn't. But you cans see the level of angst in capital markets in the internal correction that was playing out recently. The US2Yr bond yield touched 18 month highs yesterday on the report of Fed hawkish commentary from Chris Waller and stocks gyrat

Back in January, which seems like a lifetime ago now, I made some 'stick your neck out' predictions for the year ahead. Some were better than others, and some were a bit of a layup. Auston Mathews - I'm looking at you. This exercise shows the folly of predicting the future. The random walk aspect of financial markets remains undefeated as a model for risk assets. But despite that, we try anyway. Let's look at the results on my half-year report card: Samsung is a better phone/