CPI: What Was Really At Stake Today
Bloomberg's Chris Antsey writes, "obviously, this is very bad news for Joe Biden... we’re approaching the point where high inflation is bound to still be in voters’ minds when they head to the polls, regardless of how the price figures come in over summer."
This is what we said pre-data in CPI: What Really is At Stake Today
While we are not sure things will play out as their trader says marketwise, we are sure of one thing: If the inflation comes in hot, there are no more credible excuses for the higher prior inflation prints left. Inflation will be officially back. Inflation will in the least be normalizing between 3% and 4% as the downward impulse from all previous rate hikes has dissipated.
That was what was at stake today….. Soft Landing Bulls are all out of Bullsh*t now. Markets react as one would expect this time— so far—given rate cut hopes are fading into oblivion.
People took their money out of stocks…
They took their money out of bonds….
They put their money into cash destined for money markets…
They Sold Gold in anticipation of no more easy policy, but bought the dip so far as well…
Buyers were more aggressive on the dip in Silver…
Copper took a hit….
Oil a mere dent in price today…
That’s it for now. Good Luck
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