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The Fed funds rate is now up a total of 500bp since March 2022, making it the strongest hiking cycle in decades. Powell expressed that policy is tight and real rates are meaningfully above estimates of neutral rates. We could see a June hike if economic activity remains hot and the bank sector shows signs of easing, although this probability is low. The debt ceiling has thrown a wrench into this as well.
PPI recently came back as a decently bullish number regarding market response. The reading was down, yet, saw increases in lumber and ready-mix concrete, suggesting housing costs might be rising again.
Most of the bond market stays relatively volatile since traders are unsure of the economy's direction and where to play safe investments. The increasing uncertainty has spiked short-term front-end rates.
All this to say, at $70 WTI, the lows for the year provide support as crude has spent little time south of this level (aside from a brief candlestick lower due most likely to an Asian fund stopping out). As we get closer to publishing, crude has already rallied off the lows as there are few marginal sellers combined with several bullish fundamental catalysts.
This week we delve into NDQ/DXY and ETH/BTC as charts to give us an understanding of where we are at in the market and we talk about very specific trade setups, scenarios, and support and resistance levels on tickers like LTC, APT, and DOGE.
This week we learn about the connection between our bodies and minds and how our physical beings reflect what we feel inside. Believe it or not, physical discomfort can cause mental health issues, and in return, mental health issues can manifest as physical symptoms.
This week’s recipe comes from The Modern Proper, which contains many easy, but creative recipes. We are making Pork Chops with a Mushroom Cream Sauce, paired with a full-bodied Merlot.
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