On the SPOT™ blog (03/14/2023) [M..]
On this Pi day morning (PST), all three major US indices are in the green. CPI number was inline with expectations but core CPI number (excludes food and energy prices) was slightly above estimates. This is perhaps viewed as "not too bad" but when combined with banking issue from last week might limit the interest rate hike to 0.25% (remains to be seen on Wednesday next week). There also didn't seem to be any new systemic banking issue reported and many regional banks popped. Perhaps these are the reasons for green morning. META announced new round of lay offs and Moody's changed their view on US banking system to -ve (was stable before). I suppose this means caution is still prudent.
Want to read more?
Subscribe to www.gammathworks.com to keep reading this exclusive post.