Everything Soars Higher As Rate-Cut Odds Jump After CPI ‘Miss’

A ‘disappointing’ CPI print (cooler than expected) has promoted a surge higher in the market’s expectation for rate-cut…

Source: Bloomberg

Prompting a surge higher in EVERYTHING.

Stocks spiked…

Treasuries were aggressively bid with 10Y yields sdown 5bps…

Source: Bloomberg

The dollar fell…

Source: Bloomberg

Helping gold to accelerate…

Source: Bloomberg

Goldman said that this would be a materially dovish print (

What excuse will Powell come up with next to NOT cut?