Came across JP Morgan playbook for today at Bloomberg.
They are seeing a 50% chance of inflation coming in at 7.2 percent - 7.4 percent which is in line with expectations and a S&P gaining 2-3% on this as investors cheer a drop 0.8% in inflation over the last two months.
The concern will be the 25% chance of inflation coming in hotter which will be very bad for the market.
VIX is up 25% over the past 5 days shows how uncertain the environment is before CPI release.
Let's wait in anticipation!
$SPY(SPY)$ $S&P 500(.SPX)$ $QQQ(QQQ)$
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