Amid recent turbulence in the banking system, this is one of the surest signs for a rally in risky assets. From Thursday to Monday we saw the liquidity problems of American and European banks in the form of death of Silicon Valley Bank and a small domino effect throughout the system, which was stopped by US regulators, who announced support plans - we wrote about all this. In the aftermath, markets began to predict a halt to the Fed's rate hike. Today's data gives the Fed a chance to halt the hike and keep a good face.