Even at the risk of sounding like a parrot by repeating the same thing again and again, we think that it is, once again, appropriate at this time to do so: “One data point doesn’t a trend make.” But it is clear that markets don’t care about trends, they live in the moment; if they see something they like or don’t like, they just react to it. This is what happened last Friday, when the Bureau of Labor Statistics (BLS) revised the seasonal factors for the Consumer Price Index for the whole of 2023, which showed that December month-on-month inflation was lower than what was originally reported – 0.2% versus an original ... (full story)