The Week Ahead

Volume 125 - No Monday sell-off!

Good morning,

I hope everyone enjoyed the Super Bowl last night! I can’t say I watched it all, I found myself asleep on the sofa at 2am (GMT).

Markets enter the week digesting last Friday’s moves, with key macro themes still in play: inflation data, rate pricing, and equity resilience. CPI remains the dominant catalyst, with broader market implications across FX, rates, and commodities.

Tariff news over the weekend, yet no Monday sell-off? Most likely because everyone and their mothers loaded up on puts on Friday, expiring today, expecting a gap down for the third week in a row. Time for those guys to stop out and get stopped in on a move higher. oops!

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Single Stocks, Index & Vol

Equities: Mag7 consolidation remains intact; my Mag7 basket hasn’t really moved an inch since 1/22, with the bulk of earnings out of the way…