CPI Prep: Get Some Popcorn

Hot Macro Money Meets FOMO Money

Housekeeping: Good morning

Today is CPI. Here are Goldman’s and JPMorgan’s expectations for the data release.

Goldman (0.32%) and JPMorgan (0.28%) have close to the same views on CPI this month with JPM being slightly below street median estimates on Core.

Gold:

Over the last two years, JPM notes Gold averages 0.30% gains when CPI is released.

It rallies 0.50% on average when inflation comes in lower than expected, and averages 0.00% when inflation comes in higher than expected.