Strong Sales, Weak Inflation

Core CPI came in softer than expected for the 5th straight month: 0.2%, month over month (MoM) and 2.9% year over year (YoY). The YoY number did tick up slightly given the low comp rolling off from last year (monthly numbers shown on graphic below).    ...

No Help From Bonds

CPI Update: Softer Than Feared   The latest inflation report showed that consumer prices cooled more than expected. The CPI fell -0.1% in March, the first monthly decline since May 2020. The median forecast expected the CPI to rise 0.1% in March. YoY, consumer prices...

CPI Update: Fed on Hold

CPI rose 0.5% in January, above the 0.3% gain expected and an uptick from a 0.4% increase in December. Year-over-year, prices rose 3.0%, a tenth of a percentage point higher than expected and the fourth consecutive month of acceleration.   Source: Stifel as of...

The Market in Pictures, December 13

Our team looks at a lot of research throughout each day. A few charts that caught our eye this week, and the way they fit the unfolding puzzle of evidence:   Dave: Government inflation measures are trying to settle into the 2-3% range   Source: Raymond James as...

Econ Data Not Bond-Friendly

September CPI   Year-over-year, consumer prices rose 2.4%, a tenth of a percentage point more than expected but down from the 2.5% annual increase in August. 2.4% is the smallest annual gain since February 2021. Food prices rose 0.4%, while energy prices dropped...