Daily Alert – Friday 15th March 2024: PPI miss adds to caution

Mark NugentDaily Alert, March 2024

Daily Alert – Friday 15th March 2024: PPI miss adds to caution

Good afternoon.

US PPI came in above expectations on Thursday, adding to the Fed’s “we’re not out of the woods yet” narrative. This bolsters the cautious tone created by Tuesday’s miss to the upside in CPI.

My third bite at bitcoin closed at breakeven, just like bite #2 earlier in the week. Last week, bite #1 made 2.69%. There will be a brief video of all three trades next week.

That’s it for the week. Markets are becalmed by the stickiness of inflation, the caution of central banks and the growing belief that recent asset price increases are signs of a bubble. That won’t necessarily stop asset prices rising. Bubbles exist not because investors don’t know they are in a bubble, they exist because all the investors think that they can get out of the burning building before everyone else…

I’ll be back on Monday, looking forward to rate announcements from the Bank of Japan, the Fed and the Bank of England.

VIP Club members can see today’s video, all brief trading videos, the Monthly and YTD Performance videos, the Trading Video Course and download the MTM Indicators software HERE