Situational Awareness
🔀 The Fed narrative flipped overnight. Yesterday’s cooler CPI had markets pricing ~86% odds of a July hold. Today, oil above $80/bbl on the still-unresolved Iran conflict is pushing Treasury yields higher and reviving talk of a possible July hike — S&P 500 futures -0.2%, Nasdaq 100 futures -0.8% as of this morning, a reversal from …
