Equities are maintaining a risk-on rally despite elevated oil prices and rising rate expectations, suggesting markets are currently looking through inflationary pressure. The key near-term catalyst is Tuesday's final Powell-led CPI report, which could influence rate expectations ahead of the Fed chair transition to Kevin Warsh on May 15. The setup implies broad market sensitivity to inflation data and policy signals.
Equities are maintaining a risk-on rally despite elevated oil prices and rising rate expectations, suggesting markets are currently looking through inflationary pressure. The key near-term catalyst is Tuesday's final Powell-led CPI report, which could influence rate expectations ahead of the Fed chair transition to Kevin Warsh on May 15. The setup implies broad market sensitivity to inflation data and policy signals.
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