AM Brew, May 12th, 2022
PPI was released this morning a few minutes ago: stock futures are dropping and treasuries are climbing in response to an 11% y-o-y number vs. 10.7% expected. This morning stock futures, gold, FX (GBP & JPY), Crude Oil, the FTSE100, and Crypto are all down. For the first time in a few years, the markets don't look expensive to us anymore, but they certa…