🔍 9.1%, another 40 year high
inflation concern is no new concept to markets these days, but yesterday hit different
the june cpi showed higher-than-expected rise at an annualized rate of 9.1%, another 40-year high
hey, at least booze is only up 4% YoY in prices…
🏦 what could happen with rates
in a couple weeks, the fed will hold its two-day policy meeting, and people are really anticipating a 100 bps (a full percentage) rate hike more likely than an increase of 75 bps
see the cme fed watch tool – as of writing, it's projecting a 14% chance of a 75 bps hike and an 85% chance of a 100 bps hike
a month ago, the two numbers were switched
🤷 so how about today?
jp morgan earnings – 28% decline in profit for q2 reported (edited 7:25am)
morgan stanley earnings – we’ll see if this one shows any parallels with jp morgan…
weekly initial jobless claims (235K expected)
us ppi (producer price index) – releasing at 8:30am
always always feel free to email me (apeofomaha@substack.com) to ask any questions! :)
💡 something im thinking about
🙏 closing comments
all of this is just one ape’s thoughts, but I would love to hear what you want to know about! happy trading!
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