CPI surprises comes in well below expectations signaling the fed will be very likely to ease as the soft landing, Goldilocks, scenario has taken effect.
CPI 0.0% MoM, Exp. 0.1%
CPI Core 0.2% MoM, Exp. 0.3%
CPI 3.3% YoY, Exp. 3.4%
CPI Core 3.4% YoY, Exp. 3.5%
ZeroHedge notes that super core, which is inflation without everything energy based, actually went negative. This is possibly the most important development in the CPI data.
As a result, the dollar weakened substantially down 70 basis points as of this writing. Stocks rallied over 1%. Gold rallied over $20. Silver rallied $.70. And even the bond market rallied. Truly, this is the data that the fed had been getting its confidence from that. It was looking forward to come down the pipe.
Here are 30 minute charts to that effect… with a bonus for male gold mining investors.
That’s not how I view the report. Shelter still rising. Overall number at 3.3, up from a year ago and still 65% above the target. The only thing that really occurred was the the number (barely) beat expectations.
OER is spiking now, implying the longer term inflation is baking in again as renters renegotiate. how they can think he will ease is beyond me.. but they do....
That’s not how I view the report. Shelter still rising. Overall number at 3.3, up from a year ago and still 65% above the target. The only thing that really occurred was the the number (barely) beat expectations.
But of course, that’s not how it’s being played.
And we are all being played.
I agree!
OER is spiking now, implying the longer term inflation is baking in again as renters renegotiate. how they can think he will ease is beyond me.. but they do....
It's that Lady with the shoes 🤣
Full shot next time please Vince.
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Who would have thought it?
Lolololnot me!