Good Morning!
All eyes are on the Fed today, with the bond market pricing in, with near certainty, a 25 bps hike. Core inflation and PPI both came in slightly higher than expected, while nonfarm payrolls were strong, but private employment slowed. As both wars drag on, it's almost certain inflation will stay high, and the bond market doesn't seem to trust that Bessent will be able to keep long-term yields in check. The 10-year has hit its highest level since the financial crisis, while the 30-year has hit levels last seen in 2002.
Looking ahead, the Bank of Japan is also expected to follow the ECB and the Fed and hike rates further on Friday, while the Bank of England is the only major central bank expected to keep rates unchanged tomorrow.
Important Dates
WE CALLED IT
ETHUSDT
+5.5%
$2490 → $2615 CPIEtherfi & VVV
+5% to 10%
CPI
NBIS
+17%
$215 → $252BTC Long
-1%
$78,800 → $77,700 stop out
WIZARD’S WEEKLY MUSING
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