Well THAT was a non-event. The Core PCE just came out, and, wouldn’t you know it, the actual data matches the predicted data precisely. How about that? Sure is strange to think the government is telling us inflation is 3% when it feels more like 20%. All the same…………
Having pulled off that little trick, the market has been gently healing all night long, after yesterday’s brief but against-regulatory-statute tumble. The /ES is up about two-thirds of a percent.
In turn, the VIX is round-tripping its journey from a 12-handle to nearly 15 and back toward the sub-teens. Sad, ain’t it?
Thus, it seems we’re back into going-up-a-little-every-day mode. If it weren’t for yesterday’s brief blip lower, the Dow would have established a new record for itself in consecutive “up” days. In any case, and All World Index remains inscrutable, although still poised to favor those who are long equities.
