Joel Elconin – USD Down And A Buy Everything Rally
After the inflation (CPI) data yesterday that showed a continued slowing in inflation pretty much every asset class, outside of the US Dollar, has been bought. Joel Elconin, Co-Host of the Benzinga PreMarket Prep Show and Editor of the PreMarket Prep website joins me to highlight some key breakouts, such as the broad averages at highs from April 2022 and yields giving back major moves from last week.
We also look at the start of earnings season where Delta Airlines and Pepsi reported stronger than expected results. This ties into a comment on the race between price and earnings as PE ratios have continued to rise.
Overall the action in the markets is showing investors are willing to buy all assets as the USD comes down and the Fed moves closer to pausing.