- There is little of interest to me this week from a data standpoint. I’ll be looking to see if a downward revision is made to Atlanta Fed’s GDPNow forecast. Markets seem to be responding to significant revisions.
- An additional point of interest is the Michigan Inflation Expectations report. Long duration risk would benefit from a reading below 3.3%.
- I would like to see WTI sub $80 this week and on its way to $75 or lower. If yields are presently leading inflation, we should see continuation of the downward short-term trend in crude.
- Price action looks make-or-break for crypto. I wouldn’t be surprised if it breaks. Still too much speculation and positive sentiment.
