I'm calling it right here for all to see.
Mind if we ask you for a check, Soy?I'm calling it right here for all to see.
Extreme doubt.I'm calling it right here for all to see.
I agree, not a very bearish close. But I'm suspicious. Worse than expected inflation is priced in? I guess they are good at pricing.
CPI was worse than expected, but it doesn't meaningfully alter the anticipated rates path. IOW it's old news.
Significant further downside is going to require negative shocks - like CPI stays high or even accelerates after it's supposed to begin falling, Fed throws more hawkish grenades calling for 5% or even higher rates, or earnings start coming in much worse than predicted for several quarters in a row.
Markets rarely shoot straight up, or shoot straight down for the day...from open to close points. Usually, you have to wait and see and time...to capture that one, obvious, major move within the day.I'm calling it right here for all to see.