S&P 500 Duly Reversed Friday’s Overreaction
Whether you look at it several hours before the decelerating CPI release, or dozen of minutes before that, it was plain obvious. Both headline and core CPI cooperated, and markets are positioning for a no event FOMC tomorrow (I‘m deliberately, tongue in cheek, exaggerating). Q3 2022 hedge fund letters, conferences and more See those fireworks in real assets – no point in me in talking why I had been bullish them all, let the account balances of those listening, speak for themselves… Reminder of yesterday‘s key passages: (…) Remember my early Aug call for inflation to drift to 5-6% \- we aren‘t...