Algos Scoff at Hawks

No matter how often neo-hawk Fed speakers repeat it, the algos are unconcerned about the “higher rates for longer” warning. Futures are poised to make a new all-time high this morning… …because VIX has broken down (-11.4% since Monday) and is threatening to break down again.Algos are also seemingly unconcerned with rising credit card and car loan delinquencies, hot PMI readings and the latest banking crisis.

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