1. Stocks down like the Fed pivot is cancelled
2. Bonds up like the Fed is cutting rates
3. Crude oil up like the recession is canceled
4. Gold up like the recession just started
5. $VIX is at 21 like absolutely nothing is happening
The market is broken.
— The Kobeissi Letter (@KobeissiLetter) January 19, 2023
US DEBT CEILING ACHIEVED AT $31.4T
— The_Real_Fly (@The_Real_Fly) January 19, 2023
Fed officials split over rate-rise pace
Bullard: "Why not get to the level that you want to be at [5%]? Why stall?"
Logan: "I don’t find it particularly helpful…to lock in on a peak rate"
Harker: "We are starting to see things work… Let this work" t.co/zeDVQbg3YE
— Nick Timiraos (@NickTimiraos) January 19, 2023
"Softer PPI and a likely 0.32%MoM core PCE inflation reading following softer wages and core CPI are likely enough to convince Fed officials to slow the pace of rate hikes to 25bp at the next meeting"
Citi drops its call for 50bp
— Jonathan Ferro (@FerroTV) January 19, 2023