Fed officials managed to talk stocks higher yesterday, but the underlying question remains: have they already lost control of inflation and interest rates?
At 3.4%, Durable Orders more than tripled expectations. While GDP, initial claims and prices all came in at or better than forecast. Not surprisingly, interest rates shot higher – reaching key overhead resistance as did WTI.
This is quite possibly the Fed’s last chance to avoid a real mess in the bond market.
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