Inflationàcorporate balance sheets à the Fed. All intertwined and all coming soon to shed light on a market that’s been on unsteady legs once again. Caution was the name of the game, nobody was feeling too brave ahead of CPI tomorrow morning, especially if one had done so last month. The S&P traded lower into the print back in June and a hotter than expected figure resulted another aggressive sell-off, so no reason to be a hero today. Especially considering the number is expected to be higher than last month, with a 9 handle being whispered. And even THAT may not be the end of it, potentially making a mockery of the phrase “peak inflation.”
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