Pre-market: Monthly CPI came in at +0.4%, above forecasts, and the 2-year yield jumped +12 bp to 4.69%.
→ The 10-year rose only +5 bp to 4.93%, and the curve flattened by 7 bp
→ The short end is pricing a rate hike, the long end is pricing growth fears; oil is down −2.7% at $84.50
→ In pre-market, GE Vernova is down −7%, Lumentum −5.7%, Marvell −5.2%
I think the "inflation is cooling" hope cracked this morning. Worst case: if the 10-year tops 5%, the selloff spreads from infrastructure stocks to the whole index; I'm watching 5%.
#Economy #Stocks
Watching: $GEV $LITE $MRVL
→ The 10-year rose only +5 bp to 4.93%, and the curve flattened by 7 bp
→ The short end is pricing a rate hike, the long end is pricing growth fears; oil is down −2.7% at $84.50
→ In pre-market, GE Vernova is down −7%, Lumentum −5.7%, Marvell −5.2%
I think the "inflation is cooling" hope cracked this morning. Worst case: if the 10-year tops 5%, the selloff spreads from infrastructure stocks to the whole index; I'm watching 5%.
#Economy #Stocks
Watching: $GEV $LITE $MRVL
