Stocks Not Too Bothered by Higher for Longer
MRKT Matrix
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The Real Risk Is That Services Stay Elevated
The market is assuming we've seen CPI come down from its peak last June at a pretty fast clip. And that's not the case because now it's stuck on services. So I think the real risk is that services stay elevated, and then what if commodity prices come back? Then we've got CPI that actually rises again. The measurement that matters is what's hitting consumers. We need the consumer to keep the economy going.
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