September CPI rose 0.6% month over month and 3.7% year over year, while core CPI increased 0.3% and 2.6%, respectively. Broad-based pressure across headline, energy, core goods, core services, and super core inflation reinforced 42 Macro’s Sticky Inflation theme, pushing Treasury yields higher and weighing on stocks.
Meanwhile, China’s semiconductor champion, CXMT, claimed it had achieved a memory-chip technology milestone that global competitors have pursued for years, a claim that hurt the bull case for global memory chip makers.
CXMT says it has spent a decade developing the technology and holds more patents in the area than its rivals, another potential signal of China’s growing strategic advantage in STEM capabilities.
When established narratives begin to change, investors need a systematic process for determining whether the market reaction is temporary noise or a meaningful shift in risk.
Explore 42 Macro’s systematic research solutions to identify the signals that matter and adjust portfolio risk accordingly.
42 MACRO RESEARCH SOLUTIONS
— Team 42
