{"id":431858,"date":"2026-06-10T19:40:05","date_gmt":"2026-06-10T12:40:05","guid":{"rendered":"https:\/\/www.swingfish.trade\/blog\/market-news\/2026\/06\/team-transitory-2-0-is-hanging-by-a-thread-ahead-of-the-cpi-report\/"},"modified":"2026-06-10T19:40:05","modified_gmt":"2026-06-10T12:40:05","slug":"team-transitory-2-0-is-hanging-by-a-thread-ahead-of-the-cpi-report","status":"publish","type":"post","link":"https:\/\/www.swingfish.trade\/blog\/market-news\/2026\/06\/team-transitory-2-0-is-hanging-by-a-thread-ahead-of-the-cpi-report\/","title":{"rendered":"Team Transitory 2.0 is hanging by a thread ahead of the CPI report"},"content":{"rendered":"<div>\n<p>It&#8217;s finally time for the CPI and the market is nervous.<\/p>\n<p>Gold and silver cracked today, breaking the war lows on fear that Trump doesn&#8217;t have the &#8216;imminent&#8217; peace deal that he&#8217;s promised 37 times (according to CNN&#8217;s count). <\/p>\n<p>Now it looks like the pendulum is swinging towards further escalation with Trump writing:<\/p>\n<blockquote><p>&#8220;Iran\u2019s Military is a complete and total mess.<br \/>\nMuch of it, like their Navy and Air Force, doesn\u2019t even exist anymore &#8211;<br \/>\nThey have been completely defeated. Iran is all talk and no action. The<br \/>\nBully of the Middle East is DEAD!!! They\u2019ve taken too long to negotiate a<br \/>\n deal that would have been great for them, now they will have to pay the<br \/>\n price!!! President DONALD J. TRUMP&#8221;<\/p><\/blockquote>\n<p>His message on Fox News was slightly different, <a href=\"https:\/\/x.com\/FoxNews\/status\/2064674387941314810?s=20\" target=\"_blank\" rel=\"nofollow\">saying <\/a>that he is &#8220;getting close&#8221; to authorizing new strikes<br \/>\nagainst Iranian infrastructure, including power plants and bridges.<\/p>\n<p>Notably Trump also highlighted that the drone that hit the Apache helicopter got &#8220;lodged between the two pilots.&#8221; He said the drone was on<br \/>\n fire but did not explode as the pilots brought the helicopter down into<br \/>\n the water. That shows how close this was to further escalation.<\/p>\n<p>None of this is on a good trajectory and that&#8217;s why today&#8217;s markets look like this:<\/p>\n<ul>\n<li>S&amp;P 500 futures down 0.9%<\/li>\n<li>WTI crude oil up $1.74 to $89.95<\/li>\n<li>USD\/JPY up 13 pips to 160.49<\/li>\n<li>Gold down $121 to $4140<\/li>\n<\/ul>\n<p>This all comes ahead of the CPI report at the bottom of the hour. The consensus is +4.2% and Giuseppe <a href=\"https:\/\/investinglive.com\/news\/what-is-the-distribution-of-forecasts-for-the-us-cpi-20260610\/\" target=\"_blank\" rel=\"follow\">wrote <\/a>about the distribution of forecasts.<\/p>\n<p>Kevin Warsh won the nomination from Trump by putting together Team Transitory 2.0 along with Michelle Bowman, Chris Waller and soft support from 2-3 regional governors. A 4% print with no end in sight for the war is a problem.<\/p>\n<p>Expect this line to be repeated from the White House&#8217;s Kevin Hassett, who said in December &#8220;\u201cIf inflation has gone from 2.5% to 4%, you can\u2019t cut rates then\u2026\u201d<\/p>\n<p>The gold market is throwing in the towel today, I suspect there will be others to follow:<\/p>\n<p>                            This article was written by Adam Button at investinglive.com.<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>It&#8217;s finally time for the CPI and the market is nervous. Gold and silver cracked today, breaking the war lows on fear that Trump doesn&#8217;t have the &#8216;imminent&#8217; peace deal that he&#8217;s promised 37 times (according to CNN&#8217;s count). Now it looks like the pendulum is swinging towards further escalation with Trump writing: &#8220;Iran\u2019s Military [&hellip;]<\/p>\n","protected":false},"author":216,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[86],"tags":[],"class_list":["post-431858","post","type-post","status-publish","format-standard","hentry","category-market-news"],"_links":{"self":[{"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/posts\/431858","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/users\/216"}],"replies":[{"embeddable":true,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/comments?post=431858"}],"version-history":[{"count":0,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/posts\/431858\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/media?parent=431858"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/categories?post=431858"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/tags?post=431858"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}