CPI came in slightly hotter than expected at 0.1% versus 0.0% expected and prior (annual 3.1% vs 3.1%.) Core was 4.0% (unchanged) but 0.3% monthly versus 0.2% prior and 0.0% expected.) Core goods actually fell 0.3% while much stickier services rose a blistering 0.5%. This is all a bit of a disappointment for the rate cut crowd.
Futures are off slightly.
continued for members…
DXY gets some support at these levels, remaining above its SMA200.
While CL and RB are coming under additional pressure.
This preserves the 10Y’s TL, with a bit of a bounce.
continuing…