Authors:
Don Johnson (@DonMiami3) - Chief Economist
Six (@SixFinance) - Head of Research, MacroEdge Vision Investment Research
Good Wednesday evening MacroEdge Readers and Community,
This evening we’ll quickly dive into the hot CPI report, including how we got it right, as well as what we’re observing leading up to PPI tomorrow. We’ll also touch on the current technicals, through the lens of the Nasdaq and the VIX, as the market continues a largely sideways action - that it has been in for several months now.
There’s reason to believe that next ‘big move’ in equity markets <>5% will be the defining move through the remainder of the year, especially with a dynamic employment backdrop that remains weak and sticky inflation that has reared its head causing the Fed to put a complete halt to rate cuts that were once seemingly guaranteed. The 10Y today jumped 10bp today, sending it back up to almost 4.65% - which early in the day spooked equities - the market was then bid throughout the day to the upside - and awaits the PPI/PCE/earnings data for the remainder of the week. Don’t forget about Claims either… Let’s dive right in.