CPI on Tap, Risk Off Today
Ok we have CPI on tap tomorrow the expectation is for it to come in at 3.6% which would be up from 3.2% last month however the Core, which is what the FRB looks at is expected to fall to 4.3% from 4.7% last month:
The markets today took away yesterdays run up in equities and the Nasdaq was today’s biggest loser. When we look at the settlements today, notice we have rolled the equities and currencies to December:
The US Bond Yield Curve has continued to flatten into this number, it will be interesting to see if the current higher yields flatter curve will continue post number or if this will be used to reverse out of these positions.
