Well that escalated quickly…
A cooler than expected CPI unleashed hell in markets prompting a massive drop in Fed rate trajectory expectations…
Source: Bloomberg
The odds of a 50bps hike tomorrow are basically unchanged but the market’s repricing the February odds dramatically with 50bps tumbling to just 32% now (from near 60%)…
Source: Bloomberg
Stocks exploded higher with Nasdaq leading the charge, up over 4%…
Source: Bloomberg
10Y Treasury yields plunged to last week’s low yields (back to September)…
The 2Y Yield puked to its lowest since Oct…
The dollar dumped…
Bitcoin soared back up towards $18,000 (one month highs)…
Gold spiked back above $1800, trading at its highest since June…
Will Powell unwind all this ‘easing’ of financial conditions tomorrow?
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