Inflation read was higher…and the market….rallies.
Why? The main factor is that a secondary report detailed that retail sales were a miss and other factors (including oil decrease) muddled the figures and there is not enough in it for the FED to change pattern.
Other influence is that 10 year yield is close to 3% and it is not a resistance that will give way easily.
Also it was Vix option expiration day.
Still the market is changing pattern.
investorpolitico 