Watching the “market” melt up and bonds barely budge in the face of all-time highs in the monthly and annual PPI print… 
More grist for the Fed’s “transitory” inflation scenario.
Inflation is no longer dominated solely by soaring oil/gas prices. In other words, not transitory.
Will the party end? Not as long as the Fed can control volatility and interest rates – which are, for now at least, ignoring reality. Tomorrow’s another day…
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