최신 CPI 및 역외 포지셔닝에 대한 생각

Agree on the sticky services inflation; it's a real headache for the Fed and likely delays significant rate cuts. How are you adjusting your offshore positions given this extended higher-for-longer outlook?

Agreed on the stickiness; it feels like the market was pricing in a more aggressive Fed pivot than the data currently supports. The implications for foreign currency carry are worth watching closely, especially if that rate differential widens further.

The core CPI isn't as sticky as some make it out to be if you look past the housing component, which is a lagging indicator. The Fed watches more than just CPI for cuts.