Adding to Miners After Clearing CPI Hurdle, FIGR Earnings Could Drive a Rerating (Portfolio Rebalance)

Adding Some Risk Back to Miners

CPI came in roughly on target today, which was enough for me to begin adding some risk back to the mining cohort. Three-month and six-month annualized core CPI momentum continues to trend lower, reflecting a prevailing (albeit volatile) disinflationary trend. We did not get as much relief in yields as I would have liked, and PPI tomorrow remains another important data point, but to...

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