VRA Letter: January CPI Just 2.4%. The “AI Destruction Trade”; Short Term Noise. The Latest From Rich Ross. - Vertical Research Advisory

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VRA Letter: January CPI Just 2.4%. The “AI Destruction Trade”; Short Term Noise. The Latest From Rich Ross.

Good Friday morning. Breaking: Januarys CPI report is out and it’s good news. Inflation was expected to come in at 2.5% but instead we got a beat with a read of just 2.4% (vs 2.7% in December). Core inflation came in as expect ...

Posted On February 13, 20263 MIN Read

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Good Friday morning. Breaking: Januarys CPI report is out and it’s good news. Inflation was expected to come in at 2.5% but instead we got a beat with a read of just 2.4% (vs 2.7% in December). Core inflation came in as expected, with an increase of .3% m/m. Remember, the historically “far more accurate” CPI Data from Truflation shows a CPI reading of just .72% y/y.

Equity futures were solidly lower coming into the CPI report but have since rallied and are green across the board. Also on the news, 10-year yields have fallen from 4.10% to 4.08%, with gold up $62 ($5011/oz) and silver up 4.2% to $79/oz. Yesterday, GDX (Gold Miner ETF)…still the hottest sector of the last two years...was rocked with a loss of 7% but shows gains of 2.5% this morning (following the inflation data). Bitcoin is also rallying some 3% this morning, trading back up to $67,300. We continue to expect support will hold in the $65,000 area with new ATH’s in 2026.

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