CPI came in warm but not scorching — and after the initial noise, the dollar is softening while risk assets are climbing.
The real pain trade right now? Lower $USD, cheaper oil, and equities grinding higher. Nobody's positioned for this, which is exactly why it's happening.
When everyone's bracing for one outcome, the market loves to twist the knife the other way.
The real pain trade right now? Lower $USD, cheaper oil, and equities grinding higher. Nobody's positioned for this, which is exactly why it's happening.
When everyone's bracing for one outcome, the market loves to twist the knife the other way.