Coach Mark here.

Remember when we talked about inflation non-stop? Remember when the CPI report was the center of the investing universe? Well, it might take us a minute or a year or two to get down to 2% levels but one can expect conversations on inflation to fade into the background for a while after today’s CPI numbers.

Inflation numbers missed everywhere. Headline CPI numbers came in below expectations. Month-over-month numbers also came in below expectations. Core numbers also missed. It was a gigantic party of inflationary numbers missing this morning. Yields are breaking support as a result. Equities are euphoric across the board. Bonds are rallying. Gold is rallying.  

The narrative will eventually change to something else but after a week where the Fed came out and pounded the table for “higher for longer” the markets simply are looking at the data today and saying “that is cute.” Nice backdrop for multiple asset classes and there is no shortage of available plays out there today in numerous areas of the market.

We will break it all down on the Halftime Report today. Have a fantastic Tuesday!

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Chart of the Day: 10-Year Treasury Index (TNX)

There is no shortage of charts I could show here but yields seem most appropriate as they have been the center of the market for so long. That is a beautiful chart for bond bulls and bulls in general this morning.

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Weekend Reports

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