‘Where The Puck Is Going’

January's price action is "sloppy," but no one's especially enthusiastic about fighting the Fed. That was one message from BofA's Michael Hartnett who, in the latest installment of his popular weekly "Flow Show" series noted that US jobless claims at five-decade lows suggest the Fed should be hiking, not cutting, in light of core inflation that's still double target. But that's not how the Fed's leaning. They're not leaning in the direction of deep, hurried cuts either (as Chris Waller made cl