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VRA Letter: December CPI a Slight Upside Beat. Watch How the Markets Handle It (with ATH’s nearing). BTC Approved; C Wood Targets $600k to $1.5 Million. Latest from Rich Ross.

Good Thursday morning. December CPI data is in and its a slight beat to the upside, with 3.4% inflation y/y and with Core CPI matching estimates exactly, coming in at 3.9% y/y. Surprisingly, both energy and rent prices rose a bit ...

Posted On January 11, 20243 MIN Read
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Good Thursday morning. December CPI data is in and its a slight beat to the upside, with 3.4% inflation y/y and with Core CPI matching estimates exactly, coming in at 3.9% y/y. Surprisingly, both energy and rent prices rose a bit more than expected, a likely one month lag to our estimates. Both of these readings should continue to fall, which we expect to see in Januarys readout.

Our view remains unchanged; the markets have this figured out…disinflation/deflation is our clear economic theme going forward and the equity and bond markets, as discounting mechanisms, will continue to surge higher.

Stocks and bonds are slightly lower on the news while gold is +$8/oz this AM.

Bitcoin Spot ETF’s Approved by SEC

It took a crazy 24 hours of hacked SEC news releases but BTC ETF’s are now officially trading, with all 11 BTC ETF applicants gaining approval from the SEC. BTC is trading at $47,630 this AM, +$2410. 

Two remarkable stories out on Cathie Wood this AM as well. We’re long ...

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