BOOM:
CPI comes in significantly higher than expected.
Core CPI up 3.0% from last year. That's vs expectations of 2.3%
On a month over month basis, we got a 0.9% core reading vs. 0.3% expected. That's the big one right there.
Futures falling
bloomberg.com/news/articles/…
Five year yields jumping a little bit here
Useful chart here showing the annualized pace of change in inflation right now
Full story from @readep
Inflation rises at the fastest pace since 2009 bloomberg.com/news/articles/…
@readep Incredible surge in used car prices
@readep Gold and Bitcoin both fall after the inflation print
@readep NASDAQ 100 futures down almost 1.5%
@readep This is the key thing here. Curve is flattening today. So market still sees this as transitory and not a sustained, new dynamic
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