markets
Nothing good - all bad... and new record highs for stocks and bitcoin's best day since March 2023...
"Barge strikes bridge in Galveston, Texas, partially collapsing rail line..."
Nothing moves in a straight line, and it is far too early to declare that the disinflationary trend has resumed.
This strategy mirrors management's approach that helped the struggling movie theater chain capitalize on retail day traders...
"Core CPI was even better than it looked, particularly given that we already know the PPI components that feed into the Fed’s preferred PCE deflator measure came in, on balance, weaker than expected."
...five rate-cuts now fully priced in to the end of 2025...
The long gamma position in stocks could get unwound pretty quickly if the inflation outturn is big enough...
"The market is clearly concerned about something going bad that could lead to rapid easing."
"We could even see June rate cut bets return as Immaculate Disinflation returns..."
"An in-line-with-consensus US core CPI read is discounted and in the price, but that may be enough to promote relief buyers and see the index push higher. A core CPI read below 0.25% month-on-month and I certainly wouldn’t want to be short.”
"This was one of the initial catalysts for the China Property Sector..."
- European bourses are mostly firmer, US futures flat ahead of US CPI & Retail Sales
- Dollar is weaker, Antipodeans lifted on reports of Chinese support measures, USD/JPY dips
- Bonds are firmer, continuing the post-PPI strength
- Crude is in the green, XAU is supported given the softer Dollar & base metals are in the green
- Looking ahead, US CPI & Retail Sales. Comments from Fed’s Kashkari.
...did The Fed's pivot create a perfect storm for another retail meme-mania?
"Universities should be trying to encourage a constructive debate between students of different backgrounds."
"First, AI and data centers are boosting US power demand as market participants expect, especially in regions ..."
...the risk of renewed serious inflation has been put back on the table. It isn’t going to impact CPI tomorrow, but in 3 months? 6 months?
...'mixed'? ...really!?