CPI is positive, the crypto market did not see much growth, but "they" did!
1. U.S. stocks rose across the board, Nvidia took the lead, MicroStrategy announced the split time, and rose sharply before the market. Tonight's CPI is mixed for U.S. stocks. Although it is good for the expectation of interest rate cuts, the negative monthly rate is not friendly to the economy.
2. Gold has soared in the short term, and the current price is 2407, less than 50 points away from the historical high.
3. The price of 10-year U.S. Treasury bonds has risen in the short term.
Although the CPI data is good for the expectation of interest rate cuts, looking at the current gold, U.S. Treasury bonds and U.S. stocks have risen together, and we may usher in the expectation of a U.S. economic recession before we see the interest rate cut.
Gold and U.S. Treasury bonds have risen with U.S. stocks, which is basically a risk aversion sentiment. This risk aversion may come from concerns about future inflation or concerns about the future economy. Tonight's CPI data clearly shows that inflation has accelerated.
At this time, the rise of gold and U.S. Treasury bonds can only be a risk aversion recession.
Remember Powell's speech last week, the U.S. economy is heading towards deflation. It seems to match today's monthly rate.