Latest U.S. economic info is out - growth is slowing1st Qtr GDP growth was revised to - 1.5% (versus prior - 1.3%) , while pricing / inflation is still red hot. More and more people believe the FED will have to either pause or slow down on their rate hikes by the end of the summer Why? Economy is slowing dramatically / FED doesn't want to be seen as impacting mid-term elections with their policy decisions, etc..
Add this with the Euro zone recently saying that rate hikes are coming (bad for global growth and the U.S. dollar), and China slowly coming back on line (from COVID shutdowns) and precious metals are recovering from small early morning dips.
Cyptos (our preferred asset of our resident shorts) is dropping BIG today. I sense pinch points /margin calls coming for our shorts. OUCH !