Look at the success.
US CPI (Y/Y) Jul: 8.5% (est 8.7%; prev 9.1)
– US CPI (M/M) Jul: 0.0% (est 0.2%; prev 1.3)
– US CPI Core (M/M) Jul: 0.5% (est 0.5%; prev 0.7)
– US CPI Core (Y/Y) Jul: 5.9% (est 6.1%; prev 5.9)
As a result of this lower than expected CPI print, futures have predictably exploded.
SHITCOINS BID HIGHER
US 10 YR -11BPS to 2.68%
What these moves are suggesting is a cessation of Fed hikes because inflation, for all intents and purposes, has been defeated. The most dedicated and mindless bulls will point to these numbers as evidence that markets deserve to go back to all time highs, which means all of your favorite stocks have another 30% higher from here. These are not the opinions of The Fly, but instead the scattered brained logic of those who dominate the country.
Nothing would surprise me and nothing should surprise you. If the cattle want to run in a certain direction, there is very little you can do to stop them as they stampede towards their panicked direction.
Inflation dropped to 8.5% in July (down from 9.1% in June).
Big declines in gas prices (-7.7% in July) and airfares (-7.8% in July) helped a lot.
But…grocery prices, rent and electricity continue to rise pic.twitter.com/sVO5dr6eco
— Heather Long (@byHeatherLong) August 10, 2022
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Used car prices pic.twitter.com/EKzr9A36MJ
— zerohedge (@zerohedge) August 10, 2022