Torsten Asmus
February CPI report
The US BLS reported the CPI inflation report for February, and it shows that CPI inflation continues to be elevated and sticky at a level well above the Fed's 2% target.
On an annual
Another Horrible Inflation Report - Why Is The Bond Market Ignoring It?
Summary
- Another month with the 0.4% core CPI MoM print - that's consistent with 4.8% annualized core CPI.
- The bond market is still pricing the three cuts in 2024 and anchored long term inflation expectations.
- We will see either a sharply slowing economy soon, or significantly higher interest rates, with 10Y yields going over 5%.
Commodity Trading Adviser (CTA), member of National Futures Association. Professor of Finance, research on Global-macro issues. Editor-in-Chief, Journal of Corporate Accounting and Finance.
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