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?