Sevens Report – MMT Chart (April Update)

What’s in Today’s Report:

• MMT Chart (April Update)

Futures are little changed as markets tread water ahead of tomorrow’s U.S./Iran peace talks.

Despite conflicting headlines, the U.S./Iran ceasefire is holding enough for markets to remain stable ahead of face to face meetings Saturday morning.

Economically, the only notable report was German HICP which met expectations (2.8% y/y).

Today geopolitics will remain the dominant force on markets but as long as the face to face meeting Saturday morning isn’t cancelled, geopolitics shouldn’t weigh on markets too much.

Outside of the U.S./Iran war, we get important economic data today via CPI (E: 0.9% m/m, 3.4% y/y) and Core CPI (E: 0.3% m/m, 2.7% y/y).  With inflation concerns rising, investors will want to see a better than expected Core CPI reading and if that does not happen and Core CPI spikes, it’ll be an additional negative on the market.

There are two other economic reports today, Consumer Sentiment (E: 52) and Factory Orders (E: -0.3%), but neither should move markets.