(USTs lower, underperforming globally on above avg volumes)while WE slept; CPI recaps and vicotry laps; based on analysis of the past, patterns suggest 2yy goin' down...
(USTs lower, underperforming globally on above avg volumes)while WE slept; CPI recaps and vicotry laps; based on analysis of the past, patterns suggest 2yy goin' down...
Good morning. This mornings note difficult to write given the magnitude of the move in bonds relative TO the ‘good’ news. Clearly the TREND in CPI moving the the right / good direction for the Fed and I get that BUT the move in markets (both stocks AND bonds) seems to be conveying a message of clear and present danger of RATE CUTS and, well, I cannot help but think about HIGHER STOCKS + LOWER RATES = EASIER FINANCIAL CONDITIONS which then would work against the narrative AND, perhaps more importantly, against the Fed inflation fighting credibility …
I can't be the only 1 here who notes the incredible IRONY of Xi landing and visiting Red Dawn painted SF in Commie Cali; home of the soon to be paid $25 an hr Fast Food worker, and also soon to be home of the $10 Big Mac....
According to Harkster, 20 FOMC talking heads on deck to spew their 4th Reich propaganda. Man I miss the bygone Briefcase Indicator era!
Outstanding coverage of the October CPI report !!!!!
I can't be the only 1 here who notes the incredible IRONY of Xi landing and visiting Red Dawn painted SF in Commie Cali; home of the soon to be paid $25 an hr Fast Food worker, and also soon to be home of the $10 Big Mac....