> After all the pessimism in 2022 about inflation, rate hikes, weakness, etc. it's nuts how fast the market recovered, and now making new highs as if all that o

> After all the pessimism in 2022 about inflation, rate hikes, weakness, etc. it's nuts how fast the market recovered, and now making new highs as if all that old stuff last year a distant memory. The stock market is forward looking. CPI peaked in mid-2022 and has been coming down ever since: https://www.bls.gov/charts/consumer-price-index/consumer-price-index-by-category-line-chart.htm https://www.bls.gov/charts/consumer-price-index/consumer-pri... Bond traders are pricing in 150 bps of rate cuts over the next 12 months, and they’ve been pricing them in for months, which has caused equities to rally: https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html https://www.cmegroup.com/markets/interest-rates/cme-fedwatch...