Stock market bulls are regaining control, and only inflation stands in their way

) extended their winning streaks to four days on Wednesday, leaving the major US stock indexes broadly positive after two disappointing months of losses.

The investment bank is still placing ~5% odds on a month-over-month number that comes in above 0.6%, and 27.5% odds we see inflation rise between 0.4% and 0.6% from the prior month. Fed Chair Jerome Powell speaks at a teacher town hall meeting at the Federal Reserve on Sept. 28, 2023, in Washington, D.C.

Now, historically, the VIX tends to peak twice in October, then trend downwards into the end of the year. That first peak is officially in the rearview mirror as of today.

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