Like CPI yesterday, PPI confirmed rising prices that topped estimates. The 0.7% MoM headline increase was the highest since June 2022.

Algos, however, are more focused on the continuing decline in VIX.

continued for members…

Despite a 0.25% ECB hike, EURUSD is lower on the day… …meaning DXY is ticking higher. Meanwhile, WTI is flirting with 90.