PremiumAstra, Ayatollahs, & Accelerating Inflation: The Week When Oil Rewrote Warsh's Playbook
The four-day week began with investors nursing Friday’s payroll-induced hangover and ended with them pricing an almost certain Fed hike after hot producer prices, sticky CPI, and triple-digit oil. Bonds were monkeyhammered (10Y near 5%), equities spent three days reconsidering their life choices, with Friday’s oil-dip-driven relief-rally proving that the cure for inflation is apparently... temporarily cheaper inflation. Meanwhile, Astra (AGI?) arrived (briefly reviving AI dreams) but fund investors quietly hit the eject button.
Spot the odd one out for the week...