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Masks Return, CPI Burns | Morning Express | 4.12.22

Posted: April 12, 2022, 8:14 a.m.

Bill Baruch, the author of the Morning Express, is on vacation with his family this week. The Morning Express will be thinner than usual, but his updated levels at a minimum will be provided. Please feel free to contact us with any questions. Thank you.

- U.S. CPI for March is due at 7:30 am CT. Core is watched most closely, although the headline read includes the more volatile food and energy, bringing a good headline.

- Food and energy inflation is at the center after being driven higher by the war in Ukraine.

- Core CPI is expected at 6.6% YoY and to top February’s 6.4%, the highest since September 1982.

- The MoM print is expected at +0.5%, would be the sixth in a row at 0.5% or higher, this has not been done since 1981.

- Headline CPI is expected at 8.4% YoY and to top February’s 7.9%, the highest (matches) since February 1982.

- The MoM print is expected at 1.2%, the highest since October 2005.

- Fed Governor, incoming Vice Chair, Brainard speaks at 11:10 am CT in what could be a pivotal follow-up. Last week, the known dove took a surprisingly hawkish turn discussing 50-basis point hikes and a speedy balance sheet run-off to battle increasing inflation, how fitting.

- U.S. 10-year hit a high of 2.836% overnight, ahead of today’s CPI and auction.

- Tech the hardest hit as long-end rates continue to melt-higher, although all consolidating this morning ahead of CPI.

- Philadelphia reinstates indoor mask mandates upon uptick in cases.

E-mini S&P (June) / NQ (June)

S&P, yesterday’s close: Settled at 4409.00, down 74.50

NQ, yesterday’s close: Settled at 14,000.00, down 327.00

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NQ (March)

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Crude Oil (May)

Yesterday’s close: Settled at 94.29, down 3.97

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Gold (June) / Silver (May)

Gold, yesterday’s close: Settled at 1948.2, up 2.6

Silver, yesterday’s close: Settled at 24.987, up 0.164

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Silver (May)

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Futures trading involves substantial risk of loss and may not be suitable for all investors. Trading advice is based on information taken from trade and statistical services and other sources Blue Line Futures, LLC believes are reliable. We do not guarantee that such information is accurate or complete and it should not be relied upon as such. Trading advice reflects our good faith judgment at a specific time and is subject to change without notice. There is no guarantee that the advice we give will result in profitable trades. All trading decisions will be made by the account holder. Past performance is not necessarily indicative of future results.


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If you have any questions about markets, trading, or opening an account please let us know! You can email us at [email protected] or call 312-278-0500.

Futures trading involves a substantial risk of loss and may not be suitable for all investors. Trading advice is based on information taken from trade and statistical services and other sources Blue Line Futures, LLC believes are reliable. We do not guarantee that such information is accurate or complete and it should not be relied upon as such. Trading advice reflects our good faith judgment at a specific time and is subject to change without notice. There is no guarantee that the advice we give will result in profitable trades. All trading decisions will be made by the account holder. Past performance is not necessarily indicative of future results.



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