MACRO PPI lands in less than two hours. Markets are already priced for acceleration.
Consensus expects August headline PPI +0.4% MoM and +5.3% YoY, a clear step-up from the flat July print.
Core is seen at +0.3% MoM / +4.6% YoY.
This is the last major inflation print before tomorrow’s CPI and next week’s FOMC.
If it came higher than 0.4%, expect a drop in the markets across the board and if it came equal or lower than 0.4%, expect some relief.
NDX, SPX and Bitcoin all sit downstream of the same transmission: yields → dollar → risk appetite.
Consensus expects August headline PPI +0.4% MoM and +5.3% YoY, a clear step-up from the flat July print.
Core is seen at +0.3% MoM / +4.6% YoY.
This is the last major inflation print before tomorrow’s CPI and next week’s FOMC.
If it came higher than 0.4%, expect a drop in the markets across the board and if it came equal or lower than 0.4%, expect some relief.
NDX, SPX and Bitcoin all sit downstream of the same transmission: yields → dollar → risk appetite.