MORNING MINUTE JULY 13th

Morning everyone, Darren at Leviathan Financial. So CPI came out yesterday and it was indeed slightly better than expectations with the headline number year on year down to 3%, the lowest it has been since the pandemic. So invariably stocks rallied and we’re now seeing above that 4500 handle. And the chances of at least a second hike, as was implied by Federal President Powell a couple of weeks ago, is less likely.
We’re still implying that we will have at least one more. But the chances of the second is looking… less likely. And so it does look like maybe the Fed has indeed threaded that eye of the needle and kept the economy on track while still raising rates and fighting inflation. Uh, in terms of volatility, the interest rate market was crushed yesterday.
And so I would expect to see a bit of follow through in other markets as well in terms of, of volatility as we are going to be looking at, well, the next meeting, the July meeting, uh, for the Fed is the 25th and 26th and once that’s over, it is full on summer holidays. Uh, we do have PPI today Uh that will give us further indication as to whether or not the fight against inflation has in fact indeed been won and So other than that, just keep an eye on these headlines and As always everyone good luck trading and have a good