PPI JUST DROPPED
US wholesale inflation came in HOT:
• PPI: 5.4% YoY
• Forecast: 5.3%
• Previous: 4.8%
• MoM: +0.4% vs +0.4% expected
• Core PPI: 4.7% YoY
Not a huge miss, but definitely not the cooling print bulls wanted.
Stocks initially reacted lower as traders digested the inflation pressure.
And with CPI coming tomorrow, volatility probably isn’t done yet.
Macro said: “you thought we were done?”
US wholesale inflation came in HOT:
• PPI: 5.4% YoY
• Forecast: 5.3%
• Previous: 4.8%
• MoM: +0.4% vs +0.4% expected
• Core PPI: 4.7% YoY
Not a huge miss, but definitely not the cooling print bulls wanted.
Stocks initially reacted lower as traders digested the inflation pressure.
And with CPI coming tomorrow, volatility probably isn’t done yet.
Macro said: “you thought we were done?”
