August 10th Daily Market Note: U.S. Headline CPI appears to find a bottoming process in the 3% region - a pivotal macro turning point
Premium Daily Note: August 10th, 2023
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Daily Strat Note: August 10th 2023
U.S. Headline CPI appears to find a bottoming process in the 3% region
Forward-looking Conclusions of this note:
Macro: U.S Headline CPI appears to find an equilibrium in the ~3% region, with housing leading the driving force in the headline figure reaccelerating. This increase is due to low supply of housing inventory in the market, and not strong demand from buyers in my view.
U.S. Stock-Specific: U.S. travel themes as discussed continue to show relative strength. Apple holds steady. I am now looking at more Selling Put candidates – some opportunities have come back to us.
Bonds: The 10Y is remaining at the 4% level and TLT is starting to balance. View on Bonds is similar to before.
China: Holding China continues to pay off for patient folks as discussed. Reiterate Hold. Still upside on China names I’ve discussed even after BABA’s earnings outcome.
Full note below with new Options Selling Setups I’m entering discussed at the bottom of page.