Some big round numbers in play today and some warning signs ...Middle East

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I don't love the price action I'm seeing in bonds after CPI. I hate to read too much into a few basis points but US 2s are now at the highs of the day, up to 4.49% from as low as 4.43% after the CPI revisions.The data was lower but it's not a game changer. Fed funds futures pricing is down to 110 bps this year from 114 bps in cuts prior to the numbers. Next week we get the January CPI report.A long list of things are making me wary of a reversal today:SPX hitting 5000 in one of the fastest rallies everNVDA hitting $700 with an earnings report loomingOil prices creeping higher (with yields)Bitcoin has reversed some of today's gains in the past 15 minsPoor February seasonalsI don't have much c

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Last updated : 09 February 2024 clock 05:44 PM

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Some big round numbers in play today and some warning signs ...Middle East

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