Well – – that’s that! The CPI number just came in, and it wasn’t just mild, it was stone-cold DEFLATION mild. As I’m typing this, moments after the release, equities are absolutely rocketing higher, particularly the NQ by hundreds of points. You can see how instant the reaction was:
While bonds are also soaring (because interest rates are relaxing):
This may well create the “push a little past 4200” we’ve been talking about for all these weeks.
No celebration today!
