Markets for the last month have been trading relatively sideways. Investors have come to terms that the US economy may be heading towards a recession, and that makes every datapoint that more important. As the next FOMC meeting is only 7.5 trading sessions away, the debate of 50, 75 or 100bps continues to rage. This week alone has seen a shift towards 100bps (75bps still is the favorite) as CPI and PPI were higher than expected.
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