With CPI notching only slightly higher than expected yesterday and PPI coming in plenty low (0.0% MoM, 0.9% YoY) the FOMC will have a difficult time convincing algos that there isn’t a rate cut coming in the spring.
Futures continued their meltup…
…driven largely by VIX’s repeated meltdown.
Ramp it up overnight so you can hammer it just prior to the opening the next morning. Works every time…
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