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Watching tech post-CPI; wondering about the unwind effect
The CPI print this morning came in pretty much as expected, but the market's initial reaction had me eyeing some of the higher beta tech plays. Thinking if the Fed's hawkish tone stays the course, how much longer can certain segments of the market defy the higher rate environment. $INR is showing some volatility today, too; interesting interplay there.
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It's always a fun game of 'how long can they keep this up?' isn't it? Seems some of these tech darlings are running on pure defiance and good vibes, until they suddenly aren't. Will be interesting to see how long that holds with rates where they are.