Inflation data was released this week, and it was 3.01%
Last month was 2.92% (which is an increase from last month)
And my forecast was 2.76% (which is an increase from my forecast)
However, the market still continue to go up.
US and Canada inflation are both elevated this month but market did not go down
In other words, inflation at 3% is the new normal and it isn't enough to break the market.
This coming week, Fed will announce another interest rate cut.
I am still overall bullish for the market unless Fed is doing something surprising (e.g. not cutting rate or even increase interest rate)
Cheers,
Eric
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Eric Seto
Chartered Professional Accountant (CPA)
Chartered Investment Manager (CIM)
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