Tomorrow's inflation data, CPI in the US is coming up and I'm quite tense as it will pretty much show the Fed's direction.

We've had a stock market crash in recent weeks. But as we get closer to an important date, we've seen a reversal and gains the last few days. There is also news that marks a drop in the percentage of possible interest rate hikes, which as recently as last week was more like 50%.

Today I saw a report from other corners calling pleas to the Fed not to raise rates. Real estate groups - the Mortgage Bankers Association (MBA), the National Association of Realtors (NAR), and the National Association of Home Builders (NAHB) have called on the Fed to say it is not considering further rate increases. and that it will hold off selling any more mortgage-backed securities until the housing finance market stabilizes.

These associations are responding to continued market uncertainty and saying, "Further rate increases... poses broader risks to economic growth and increases the likelihood and magnitude of a recession."

But a Fed spokesman has not yet commented on the letter.

Well, we'll soon see how this all plays out, especially with significant data due again tomorrow.

What is your mood in the markets? 😁