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Super Grannies and Market Update – June 30 Webinar Cancelled

INTRADAY ALERT: April PCE not great, 3 items point to future disinflation = keep Fed "pause." Stick with thematic FAANG/AI + Grannies

NEW: Section (above) added identifying Key Recommendations and Super Grannies

April Core PCE came in "hotter" than expected at 0.40% MoM vs Street 0.3%. That is a "hot print" and, at face value, should have triggered a re-pricing of Fed funds expectations (June hike into play) and higher interest rates.

Instead of a major de-risking, equity markets are up 1%. As our very own @mattcerminaro points out on twitter, this is a best case scenario. We have 3 reasons why we believe equity markets are...

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