. The Macro Catalyst: CPI & The Fed Wait Game

The market is in a chokehold because of macroeconomic data. Today, June 10, 2026, the U.S. Consumer Price Index (CPI) report dropped. Coming off April’s hot 3.8% print, the market has been pricing in persistent inflation.

To make matters more volatile, the Federal Open Market Committee (FOMC) interest rate decision is scheduled for next week. With Kevin Warsh now acting as the new Fed Chair, futures markets are shifting aggressively. There is practically zero probability of a rate cut being priced in for this month; instead, the market is nervously eyeing whether the Fed will signal a rate hike or completely scrap its traditional forward guidance (the dot plot).

When bonds are pushing yields close to 5%, capital naturally gets sucked out of risk assets. Retail liquidity is also pulling back, with a noticeable chunk of capital rotating out of crypto and chasing the AI infrastructure boom and upcoming massive tech IPOs.

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