Vertical Research Advisory
Log inJoin Now
Newsletter

VRA Letter: November CPI Comes in as Expected. VRA Macro Themes Continue to Kick In. A Broadening Market is a Bullish Market. Will Small Caps Keep Leading?

Good Tuesday morning. Heads up: we will be making some VRA Portfolio changes into year end. We want a concentrated portfolio in positions with the highest probability for success. Look for these changes in the coming days. This ...

Posted On December 12, 20235 MIN Read
Share:
vra-default-img

Good Tuesday morning. Heads up: we will be making some VRA Portfolio changes into year end. We want a concentrated portfolio in positions with the highest probability for success. Look for these changes in the coming days.

This morning we got the November CPI inflation data and it came in largely in line, with year over year headline inflation coming in at 3.1% with Core CPI also coming in right at estimates with y/y inflation of 4%.

Equity markets are slightly higher on the news while bond yields are falling, with the 10-year yield down to 4.2%.

Tomorrow, all eyes will be on the Fed’s FOMC statement and Powell presser. As Tyler covered in his podcast yesterday, the markets are beating Powell and his Fed brethren at their own game. AKA, Fed front-running is now very much in place. #EndTheFed

We look for our VRA macro themes to continue to kick in; from disinflation to productivity growth to wage growth to rising corporate earnin...

Continue reading your article and start your free 14-day trial with VRA.

Start Free Trial

Already have an account? Sign in.

Related Post

April 17, 2025
VRA Letter: Charles Schwab & Fox Business. Trump v Powell; Here We Go. Snowline Gold; Massive Discovery in the Making

Good Thursday morning. Heads up: Tyler will be on the Charles Schwab TV network @ 11:50 EST https://www.schwab.com/schwab-network and I will be on Fox Business with Charles Payne in the 2PM EST hour. Hope you can join us. I have to say, with Trump calling for Powell to be terminated this morning, it’s an interesting day for us to be on air. Here’s […]

April 16, 2025
VRA Letter: Nonstop Bear Market News Flow. Death Cross, Part 2. Are Millennials the New Mrs. Watanabes? Gold and Miners; Beast Mode. Twilight Zone Moment.

Good Wednesday morning. Is everyone enjoying their 2-3 hours of sleep over the last 1-2 months? Non-stop news flow and market-moving events continued overnight as Nvidia announced they are no longer allowed to sell their H20 (AI) chips to China…Trump literally banned them...resulting in a $5.5 billion hit to Q1 earnings. Hey, we get this one. We’re […]

April 15, 2025
VRA Letter: Developing; the Flip Side to Worst Case Scenarios. Demand Pull and the Semis.

Good Tuesday morning. This is a developing situation but it has enough upside potential that we wanted to get it to you while we’re early in the story. What did we learn from the plandemic? We learned that both the consumer and companies began stocking up on “everything” as supply chains began breaking down. In economics […]

April 15, 2025
VRA Letter: Neither Permabull or Permabear. Death Cross, S&P 500. BofA Survey. Xtract One Analyst Buy Rec. Gold/GDX. Tucker Goes There on 9/11.

Good Tuesday morning. Yesterday’s rally, following Trumps semi-exemption of electronics from China, was good…just not great. The internals were actually quite strong, but the semis lagged and the action into the close was poor. The damage that’s been done to this market is widespread and stunning. From the ATH’s to the lows of last week: S&P […]

April 14, 2025
VRA Letter: Here’s What We See….

Good Monday morning. Late Friday night the administration took action to exempt computer and electronic products from China (from 145% to 20% tariffs), essentially caving to big tech (Apple, Nvidia) while leaving all other tariffs in place (the tariffs that affect small caps and small businesses). This had the markets expecting a possible “limit up” […]