So, today I was expecting an entirely different outcome after the consumer price index got released.
Let me explain, in a nutshell, it comes down to this, estimation 7%, real data 7% next logical step is J Powell coming out with the announcement about the incoming interest rate hike and risk assets such as tech stocks and in particular crypto market goes south real hard real fast.
This in my humble opinion was the logical thing to expect, instead, we have markets celebrating as if 7% inflation is no big deal, especially since it was in line with expectations, but why does that matter?
This is still a highest reading since 90s...
I think this year will be particularly fruitful for those who can maintain their heads levelled and react to changing circumstances timely, and myself, I will try to always share my perspective and provide this community with relevant insights into the markets.