Tomorrow's Massive VIX-peration Will Be A 'Doozy" - Nomura Warns It Won't Take Much To Elicit Large De-Allocations

The "immaculate disinflation"–narrative got punched in the face this morning, as this upside CPI surprise is at risk on throwing a giant wrench into everything, as Yields scream higher and Curve bear-flattens, with the first full Fed cut now pushed-out into July (and less than 4 cuts in total in 2024)...

Source: Bloomberg