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Oil & Gold Soar On Week, But 'Good Data' Wrecks Rate-Cut Hopes, Slamming Stocks & Bonds
It was a 'good' week for macro data... chart ...but 'soft' survey data remains mired in depression as the 'aggregate' hard data holds strong... chart Of course, good news is bad news for the doves and rate-cut expectations for 2024 are down (particularly after today's big payrolls headline beat) well below three cuts expected by the 'median' Fed dot... chart ...and the odds of a cut in June have tumbled back to a coin-toss... chart And to rub salt in the wounds of the doves, inflation expectations are back on the rise bigly... chart Stocks initially down-pumped on the hjobs data (good is bad) then went into ... (full story)