Wall Street's Biggest Bear: More Pain Ahead But Bear Market Ends October... And Here Are The Top Trades For 2023

“Everyone worried about return of capital, not return on capital.”

- Michael Hartnett, Heard on the Street

It was a painfully ugly CPI print, and unfortunately as BofA's Michael Hartnett writes, showing the various inflation paths based on monthly changes, "it is unlikely to drop below 4-5% anytime soon."