CPI print triggers historic day across markets
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Today's slide deck: https://bit.ly/3EksL4R - Click here to open an account with Saxo - Yesterday's lower than estimated October US inflation figures (both headline and core) triggered a gigantic move across all markets with Nasdaq 100 futures rallying 7.5%, US 10-year yield dropping 30 basis points, USDJPY plunging 3.8%, and copper futures rallying 4.2% over two trading sessions. Adding to the positive sentiment is China's announcement this morning to ease Covid restrictions which will add to growth and inflation. According to some estimates the moves across markets yesterday led to the biggest single day easing of financial conditions which do not really fit with what the Fed wants to achieve. Investors must remind themselves that this inflation print is just one data point. In today's podcast we cover the inflation report and the reactions across many different markets. Today's pod features Peter Garnry on equities and Ole S. Hansen on commodities. Read daily in-depth market updates from the Saxo Market Call and Saxo Strategy Team here. Intro and outro music by AShamaluevMusic