CPI and the Fed decision are imminent—there’s zero room for error in the market. If CPI slightly exceeds expectations, combined with the recent surge in oil prices, the market could easily descend into panic over resurgent inflation, triggering a cascade of selling. If CPI comes in below expectations, any bullish relief will likely be fleeting, as high oil prices will prompt markets to prematurely worry about a rebound in the next CPI reading. Despite the Treasury’s continued expansion of bond buybacks, long-term yields and the yen’s movement prove that bond traders aren’t buying into this kind of “verbal reassurance.” This is the real reason behind yesterday’s pullback in U.S. stocks and crypto. In my view, tomorrow night’s CPI must hold steady at expectations; true market upside will depend on whether the Fed delivers a genuinely dovish signal on September 17. The next ten days are absolutely decisive. #CPI $BTC