USVM - Inflation Is Still In A Downtrend

2024-03-12 22:40:00 ET

Summary

• Tuesday’s CPI report came in a touch hotter than expected at 3.2% on the headline and 3.8% on the core.
• Bonds sold off on the news as investors started to project the likelihood of later rate cuts.
• It’s worth keeping the big picture in mind here as we look at one month of inflation data, and that trend is still strongly to the downside.

Tuesday’s CPI report came in a touch hotter than expected, at 3.2% on the headline and 3.8% on the core. Analysts were looking for 3.1% and 3.7%....

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