Daily Alert – Tuesday 14th November 2023: US inflation suggests end to Fed hikes

Mark NugentDaily Alert, Nov 2023

Daily Alert – Tuesday 14th November 2023: US inflation suggests end to Fed hikes

Good afternoon.

All four of today’s US CPI numbers came in below expectations which were themselves below the prior numbers. It would now seem likely that the Fed’s hiking cycle is over. The Fedwatch tool has taken a significant downwards move, indicating a full 100 basis-point reduction by the end of 2024. I am so envious of the US economy.

As you might imagine, equities are up, and the USD and US 10-year yield are significantly down.

Last night I went long on WTI as it moved up nicely during the day. So far, it’s doing OK.

I will be back tomorrow.

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