Shorts Slammed, Bitcoin Battered, Breakevens Burst Higher Ahead Of CPI

As everyone and their pet rabbit hold their breath for tomorrow's CPI print, today saw small business optimism droop from multi-year highs, economic uncertainty jump, and CapEx expectations tumble.

Add to that Fed Chair Powell offering little new information during his 'Humphrey-Hawkins' testimony - reafffirming that the fed funds rate was "significantly less restrictive than it had been" and reiterated that