The US rebound continued today and after today’s close, the S&P 500 is back above where it ended July. The end of July coincided with a recession scare via the jobs data, which also pushed trading positions to be unwound in dramatic fashion, but with the VIX back to 15.15, volatility has subsided. This week has been important in calming those hard landing fears, first with the PPI and CPI, and then with today’s Retail Sales which rose 1% versus the expected 0.4%. The data shows the consumer rem…
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