Risk sentiment rebounds, SPX rises again🥱

Risk markets certainly loved the miss in CPI, with bond yields falling -15bp on the session, while SPX rallied another 0.75% on the session led by tech and rate-sensitive names, signaling the breadth of the broad-based rally. Wall Street dealers reported strong investor interests to enter into long fixed-income positions (better on lower rates) after the number, as expectations are calling for a continued drop in CPI as foreshadowed by other indicators such as the rapid deceleration in M2 money growth and Case-Shiller home prices.

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