Tl;dr: 'Goldilocks' data and current Dealer 'Long Gamma' stuffed to them from the 'perpetual Vol supply' machine remains undefeated... but upcoming event-risk is massive, and Equity Index Vol is exceptionally cheap.
Today’s data was “growth resilient, but with inflation / prices and labor cooling” - where US annualized GDP QoQ comes in “hot” at 3.3 vs 2.0, but Price Index LOWER along with higher Claims - all of which is like catnip to Equities.
