US CPI Countdown: Markets Already Reacting. Are You?

At the start of this week, we had sounded an optimistic note for risk assets following last Friday's (Feb 6th) rebound for stock indices and cryptos.

However, such risk-taking appetite was dented as the week progressed.

Sure, there was the surprise display of resilience in the mid-week release of the US jobs report, which forced markets to dilute bets for Fed rate cuts.

However, Wednesday's reaction to the NFP was relatively muted compared to yesterday's (Thursday, Feb 12) declines: