Richer than yesterday
05-11

Will this six week streak a sign of a bigger downfall? Hope the momentum continues.

Warsh Debuts Hawkish at Jackson Hole; September Hike Odds Near 60%?
Warsh's Jackson Hole debut was not ambiguous. He reaffirmed the 2% PCE target, said modest disinflation is not enough to confirm a trend, and left room for more hikes if inflation does not keep falling — read as the most hawkish Jackson Hole in years. Markets moved fast: September hike odds near 60%, two more priced by March 2027, the 2-year up more than 10bps. This time the front end did the work, not the long end: QQQ −0.65%, spot gold back from $4,649 to about $4,478, Bitcoin down to $77,779. Tech, gold, or BTC?
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