The stock market is having a big “risk-on” day today, following a better-than-expected inflation report this morning. Buy your S&P puts for next year today, since a recession will throw this into reverse pretty fast. Pay attention to the inverted yield curve. The current Fed rate-hike cycle turns out to be one of the sharpest in history:
UPDATE: Aaaannnnd . . . the market has given up nearly all of its huge gain at the open this morning. . .
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