FAST FIVE: Is This Just The Start Of Another Bear Market Rally?

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Is This Just The Start Of Another Bear Market Rally.

As JPM trader Andrew Tyler writes, “it may be the case that the potential for this rally is predicated on the outcome of next week's CPI, where consensus for Headline CPI YoY is 8.1% vs.

8.3% prior.” Assuming an in line number (or a miss), is that enough of a step-down to continue the move higher especially as that level may cement calls for 75bps in both November and December meetings”, especially after today's dramatic JOLTs miss.

This week, the 10Y is -24.9bps to 3.5795% relative to 3.3578% before global bond markets were roiled by the UK fiscal situation.

Positioning remains light and multiple asset classes continue to see a dearth of liquidity; combined that is a recipe to move higher.” Tyler Durden Tue, 10/04/2022 – 15:40.

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