Interesting couple of days coming up with CPI presumed to be weak and then FOMC seeing some potential variance with 2 banks out of 11 we track calling for the median dot to go to just 1 cut with the other 9 banks expecting dots to show 2 cuts for 2024. While the bar for me to be bearish equities is very high, the warning signs for equities are stacking up. I’m bearish now. • Carry is unwinding all over the place. Mexico, Italy, France, etc. are seeing risk premium added after months or years of compression. • More micro: Crypto is losing steam after multiple attempts to make new all-time highs following the ETH ETF ... (full story)