Last night saw more losses on Wall St as the CPI inflation print again came in strong, albeit slightly lower than expectations. ‘Transitory’ took another hit. This fuelled a strong gold rally and shares fell, now putting them in the red for the month so far. The prospect of higher rates and tapering amid the debate over the US’s next massive $3.5 trillion deficit funding relief package and looming debt ceiling is increasingly weighing on the market’s mind. So let’s look a bit further at what is a truly mind blowing set up in the US.
