Back on Feb 25 Q4 GDP came in at 4.1%, so hot that S&P futures plunged over 100 points as investors quite rightly wondered how it might affect the Fed’s easy money policy.
This morning’s March PPI at 4.2%, the highest since 2011? 
Yawn.
Perhaps the reason the Fed is so unconcerned with the huge spike in inflation is because its trading desk has been so busy making sure that the “market” doesn’t react negatively. Compare Notes’ reaction [see: Bonds Not Buying It] then and now.
The algos have been busy this morning, with the usual pre-opening shot across the bow from VIX.
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