34 days ago • Posted by Paul de La Baume
US #CPI surprises slightly up $spy $qqq #inflation #trading
Core CPI came slightly higher than forecast at 5.6% YoY versus 5.5% expected. Nonetheless, month-over-month it met expectations at 0.4%. Energy prices will continue to be a major focus. The war on inflation is certainly not over, and markets still need to digest the significantly higher interest rates than last year.
Markets may again feel some anxiety as we near another key inflation data, the PCE, on Friday, February 24th. And the most important element in driving stocks remains the Fed and the yield curve. And Treasury yields are significantly higher than last year and are likely to keep a lid on valuation multiples.
