Yesterday, the markets should have capsized after US inflation proved tougher than expected. Typically, such news would send the markets into a tailspin, following the familiar pattern of initial panic, a brief rally, and then a downturn. However, this time, the expected downturn never materialized. The markets found unexpected buoyancy, thanks to glimmers of hope for peace in Ukraine and a lack of fresh trade barriers from the White House. These factors helped steady the ship, preventing a full-blown market dive. Even today's higher than expected producer prices didn't change.

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