Inflation's still accelerating as headline CPI soared 5.0% YoY (hotter than the +4.7% expected). That is the highest level of inflation since Aug 2008. But the US market is shrugging it off, as I expected earlier.
Tech stocks not fazed either despite 10yr bond yields moving back higher above 1.5%.
As long as we do not see a sharp euphoric rally, the calm in the markets is good at least from a transitory perspective.
Inflation's still accelerating as headline CPI soared 5.0% YoY...
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