Macro markets / US inflation
0.3% is a fantastic print. That’s the Core CPI month on month change. It matters more than the largely backward looking year on year, and it is the sequential slowing of present pricing pressure that needs to happen, in order to convince the Fed that tightening is indeed getting / gaining traction across the economy, and that double digit rates are not going to be needed.
Market loves it. Dollar looks to have peaked for the cycle (bottom right graph). China COVID-zero probably preventing commodities from joining in the rally to quite the same degree (plus different starting points for valuation/price-action).
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