Thread by @tdarling1

Good day, Friday!

#CPI +5.0% (biggest ↗️ since 8/08 - not a vintage year, btw) and the UST 10Y drops to 1.44%.

Market is discounting what may be a peak in growth and inflation.

Let's dig into the morning's early data...

Asian equities closed the week mostly ↗️

$NIKK 28949 unch
$SSEC 3590 -0.6% 🔻
$TWII 17214 +0.3%
$HSI 28870 +0.5%
$KOSPI 3249 +0.8%
$IDX 6095 -0.2% 🔻

Australia ↗️
$ASX 7312 +0.1%

India ↗️
$BSE 52512 +0.4%

Europe trading ↗️

$DAX 15587 +0.1%
$FTSE 7125 +0.5%
$CAC 6575 +0.45%
$AEX 725 unch
$IBEX 9186 +0.55%
$MIB 25654 +0.05%
$SMI 11841 +0.25%
$MOEX 3841 +0.3%

🇺🇸 futures 🟩 but just barely ↗️

$ES 4240 +0.5%
$NQ 13906 unch
$RTY 2313 +0.15%

$VIX 16.00 🔻

GOLD ↗️ on a decline in real yields
$GVZ 15.50 $VXSLV 34.63

$GOLD 1899 +0.15%
$SILVER 28.31 +1.0%
$COPPER 4.569 +1.9% <<<
$PLAT 1155 +0.8%
$PALL 2772 -0.2%
$ALI 2490 +0.5%
$ZINC 3036 +1.15%

$DBB to 🚀

Hydrocarbons ↗️
$OVX 33.03 🔺

$WTIC 70.48 +0.3%
$BRENT 72.72 +0.3%
$GASO 2.214 +0.1%
$NATGAS 3.251 +3.25% 🚀🚀🚀

Grains trading ↔️

$WHEAT 684 +0.1%
$CORN 696 -0.5%
$SOYB 1546 +0.1%
$SUGAR 17.52 -0.8%

USD holding 90 🔺

$USD 90.123 +0.05%
$EUR 1.217 unch
$GBP 1.416 -0.1%
$AUD .776 +0.15%
$USDJPY 109.50 +0.2%
$USDCHF .896 +0.2%
$USDCAD 1.209 unch
$USDRUB 71.69 -0.1%

$BTC 37020 +1.7%

UST yields ↘️ with 10/2s to 128.5 BPS, flattest since the end of February. MOVE 48.26 -8.67%

2Y .145
5Y .708
10Y 1.43
30Y 2.123

10Y yields ↘️ across the globe

$NFP this morning, and if employment is 🔥 and the 10Y does nothing or drops, your #quad4 signal is clear.

Got $GOLD?

Have a profitable Friday and a GREAT weekend.

F’d up. NFP was last week. My mistake.