Taking Stock Of Current Melt-Up (And Meltdown) Fuel

The inflation event risk cleared on Thursday morning in the US with no issues. Core CPI printed back-to-back 0.2% increases for the first time since early 2021, and they were "low" 0.2%s to boot. At the risk of uttering "famous last words," that may be the death knell for sundry summer vol spike calls. A September Fed hike is very unlikely. "Now, the directional equities risk pivots back to potential buy-flow catalysts and 'melt-up fuel' over the next two weeks," Nomura's Charlie McElligott s