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As I am sure you have already heard, the Consumer Inflation number came in higher than expected this morning.

Some of the phantom rate cuts again went by the wayside of reality.

The Dollar rallied strongly, putting in over 100 basis points on the DXY index.

Stocks fell sharply. The mispricing of risk is sometimes difficult to maintain.

Gold and silver came some ground back, but not nearly as badly as one would have seen even a few months ago.

Physical buying in the East may be sustaining the price.  

PPI tomorrow.

Let's see if the bipolar market punters can swing back to delusional again.

Have a pleasant evening.
 

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