September was such a bull trap month
It seemed like the AI trade could get some legs again after a terrible July
So many jumped back in with leverage after exiting at a loss or getting outright liquidated
All for another July-esque dump in October
Ruthless market.
September's PCE release will be an important indicator of the direction of U.S. inflation, as the outlook continues to be shaped by energy volatility, tariff pass through and services inflation.
Our PCE report and forecast will be available tomorrow.
👀 on FOMC.
September new home sales fell -0.6% m/m vs. -4.5% est. & +5.1% prior (revised down from +6.4%) … median new home price +3.9% m/m to $400,400; average selling price at $472,800