Okay, those CPI numbers are coming in a few minutes, so let’s see how futures and commodities respond.
Okay, they’re hotter than expected 1.3%!
9.1% was shocking. Someone ‘leaked’ Spain’s numbers yesterday as the US Numbers, 10% and I think that was not an accident.
They obviously wanted to surprise everyone with bad numbers, so that less bad numbers would feel less shocking than 9.1%
Now let’s just see what the Fed Rate Hikes look like going forward, and since there is NOT an FOMC in August they might choose to pull forward hiking more so they can get to the neutral rate sooner than later.
Morning Update – July 13th, 2022