Inflation once again came in 🔥 than expected. @sonusvarghese has said all year that inflation would remain hot and as a result yields would likely stay higher than most expected. Here are his latest thoughts 👇 👇

After one of the best days of the year, 10 sectors are currently up more than -0.5%. Nothing wrong with that, some give back after broad gains is fine. Stop me of you've heard this before, because then there's tech

Yes, these next six months are historically quite bullish, but when Congress is fully to the Democrats it turns out the S&P 500 does even better. Never lower six months later (11 for 11 higher) and up 16.5% on average.

Investors losing money in the stock market believe the game is rigged. But if anything, it's rigged to go up not down. Asset prices have always gone higher over the long-term even after bear markets and corrections, as @RyanDetrick explains on Full Signal.

$HYG up nicely today and is now positive over the past month. Not what you'd expect if the world was ending. Remember, this bottomed right at 2pm on Thursday when all the hysteria was happening (even as stocks collapsed the final two hours).

We've heard for a couple years now that AI would take all the jobs. Here's are four things to consider: •Employers added 165,000 jobs in October, taking the three-month average to 137,000. Monthly job growth has averaged 86,000 this year, a significant recovery from the average loss of 7,000 jobs per month between May and December 2025. •The unemployment rate is at a historically low 4.1%, and it's been below 4.5% for a record five straight years. •The prime-age employment-population ratio is at 80.7%, higher than anything we saw in the 2000s or 2010s economic expansions. More people in their prime working-age years are working now than at any point during the last two expansions. •The layoff rate (layoffs as a percent of the workforce) is just 1%, even lower than the 1.2-1.3% we saw in 2018-2019, when the labor market was exceptionally strong.

AI has unquestionably been inflationary this year. So if all the building slows down, could that be a potential positive to the inflation backdrop? We've been on record the Fed would be significantly more dovish than what the Fed Funds Futures were pricing in and could this now say no more hikes?

Last year, the S&P 500 gained 16.4%, but if you missed the best 10 days that dropped to minus 9.5%. Since '90, stocks have gained 7.7% a year, but if you missed the 10 best days each year? It goes down to -15.4%.