A Good Number But Still Just One Number
August 10, 2022 Good morning, It’s one of those myopic days today for investors, a morning lacking market imagination or insight. The big inflation number was released this morning. July CPI data came in surprisingly good vs expectation – market moves are almost always driven by the printed data vs expectations. The absolute value of […]
This Rally is No Slouch
August 8, 2022 Good morning, Fed speakers spent the first four days of last week tying to push back against the market’s dovish interpretation of the recent rate hike. Friday’s blowout employment data for July finished the job for them. Fixed Income market participants reset their expectations back up to a +75-basis point rate hike […]