evening wrap
market vibes
October 10… )
“There’s no disgrace in failing, lad, though friends and foes deride, in fact, a failure’s not so bad as never having tried.” Thomas Bailey Aldrich, American, 1870
Anticipation for CPI this morning was heightened buy Tuesday’s deflationary plunge in commodities, so markets were content to pause yesterday albeit leaning hawkish at the close last night. But stocks were dead today despite a hot CPI because the algos were programed for dovish, imo.
S&Ps posted an ATH on the lightest volume in weeks yesterday followed by and even lighter volume day today because …the most active stock? Well, duh. NVDA.
The VIX is actually up today because it’s becoming kind of a new bullish on stocks, buy the VIX thing. I confess I’m a sour ball when writing about stocks but not the VIX. It is eerily steady.
In fixed income and other markets
