SOL Keeps Shining as Signs of Market Exhaustion Remain Absent
Nov 16, 2023
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Market Prices in Rate Cuts
The key macro event this week was the release of the October CPI data, which came in notably cooler than anticipated. The year-over-year CPI was slightly lower at 3.2%, just below the predicted 3.3%, while the month-over-month figure remained steady at 0.0%, in contrast to the expected 0.1%.
This cooler inflation data spurred a surge in equity indices. It also bolstered investor confidence in the Federal Reserve's policy direction, hinting at a possible end to the ongoing series of rate hikes. As a result, the market has begun to factor in potential rate cuts,...