š Hot CPI Print Changes the Game
The Event: U.S. CPI came in at 3.5% YoY, above forecasts of 3.2%. Core CPI also stayed sticky.
Market Reality Check: This kills the "imminent cut" narrative. Rate futures plummeted. A strong USD is pressuring global assets.
Forward Look: This puts every asset class in a defensive re-evaluation. Focus on sectors less sensitive to rates until the next data point.