Bloomberg strategist: Bitcoin, copper and bonds are puppets of the S&P 500

• —50-week copper-S&P 500 correlation hit 0.64, the highest on a rising phase since 1988
• —Bitcoin's 50-week average near $76,500 is declining, mirroring 2022
• —S&P 500 sits near 7,807, copper at $6.74/lb and 5-year Treasury yields near 5%
• —US September inflation accelerated to 3.7% versus 3.6% expected