Fed is deranged if they are worried about inflation from tariffs
-Average hourly earnings: +0.3% MoM, +3.8% YoY (slowing)
-Asking rents: -0.4% YoY, +0.6% MoM; national median monthly rent at $1,384
-Energy off 15% in two days
I think that trading will be really simple from now on.
Logic tree:
Q: Is Lutnick in the US Administration?
Yes: sell USD, sell SPX, buy bonds on open. Never close.
No: reverse above.