Jamie Dimon hates crypto! – And the truth behind today’s inflation numbers

Tuesday, January 14th

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“No one is more dangerously insane 

than one who is sane all the time.”

– Alan Watts

 

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Markets Today

🌏 Asia-Pacific: Up

🇪🇺 Europe: Up

🇺🇸 United States: Up

🛢️ Oil: Down

Crypto: Up

 

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Major Market Events 

  • Jamie Dimon drops the mic on Bitcoin (link)
  • People want to be fat (link)

 

🤔 My Thoughts

The S&P is drifting gently sideways after this morning’s PPI report. The overall inflation came in at 0.2% vs. 0.45% last month. However, it’s important to read deeper than the headlines. Year over year, the PPI rose 3.3%, which is the biggest increase since 2023. So, the headlines are a little misleading. 

Inflation is still accelerating. Obviously nothing is a straight line up or down, but larger time frames can provide more insight into the trends. We can also look at the bond markets. Even after the “soft” read, 10-yr yields continued to rise. 

Which means the bond markets still aren’t happy with where inflation is at. Tomorrow, we’ll have the CPI, which is the consumer side of inflation. It will likely be in line with the PPI — lower month to month, but accelerating longer term. 

 

Testimonial of the day

 

Taken 3 trades – all winners , up $1000 in 19 days. Way to go


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