Five Short Market Stories in Charts

1) Are Inflation Expectations Anchoring? The tariffs are impacting the psyche, and people are reacting. Their inflation expectations are firming up, or as they say, the inflation expectations are anchoring. The 5-year Forward Inflation Expectations have been between 2.40% and 2.24% since November 2023. After declining from the high in April 2022, the University of…

Morning Notes – Thursday, March 27, 2025

Directional Bias for the Day: S&P Futures are lower. Moving within a descending triangle. Odds are for a down day with elevated volatility. Watch for a break above 5761.00 for a change of sentiment. The notable economic data due during the day: Unemployment Claims (224K vs. 225K est.; prev. 225K) at 8:30 AM. Final GDP…