One month after the October CPI unexpectedly came in slightly hotter than expectations with headline CPI rising sequentially for a 53nd straight month...
... just after the Fed cut rates for a second time, this time at a 25bps clip (after its initial 50bps jumbo cut), traders are somewhat less concerned what the October inflation print will show on Wednesday morning now that Trump is president and inflationary expectations have been throw in disarray, a function of what Trump's fluid policies will be starting January 20, 2025. That said, they are still looking forward to tomorrow's number which will decide once and for all if the Fed will proceed with another 25 rate cut next week or if we may get a pause, if not a premature end to the easing cycle.
