S&P 500’s Wild Ride – It’s Just Liquidity

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The 2y yield sharply plunged to 4% only in what amounts the fastest decline since Oct 1987, and we know what happened then . Even if such as outcome isn‘t on the table now any time soon, I would add that it‘s needless to say, the unjustifiably easy financial conditions have sharply tightened over the last couple of days… Q4 2022 hedge fund letters, conferences and more Let‘s talk CPI, the key event of today – my expectations turned out on the hotter side, and both the headline and core CPI came in (YoY) in line with expectations, which takes the spotlight off the Fed‘s inflation fighting focus…

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