“Front-loading” is a process of distributing unevenly, with a greater proportion at the beginning of the process, and James Bullard thinks this should apply to rate hikes.

Gold futures traded to their highest value since April 2022 which led to selling pressure from traders taking profits. Gold traded to an intraday low today of $1906.20 before slightly recovering.

Market participants continue to react to the bullish market sentiment created by yesterday’s CPI report.