WS #16132
The US CPI rebound has complicated the Federal Reserve's path to rate cuts, while the UK unemployment drop to 4.7% has boosted odds of a Bank of England rate hike. This sticky inflation environment, fueled in part by the oil shock, is supporting the dollar and pressuring rate-sensitive assets like Bitcoin, which is consolidating near $81,400. The macro backdrop favors value and energy over high-multiple growth.
Macro Inflation & Central Banks
The US CPI rebound has complicated the Federal Reserve's path to rate cuts, while the UK unemployment drop to 4.7% has boosted odds of a Bank of England rate hike. This sticky inflation environment, fueled in part by the oil shock, is supporting the dollar and pressuring rate-sensitive assets like Bitcoin, which is consolidating near $81,400. The macro backdrop favors value and energy over high-multiple growth.