Friendly Wholesale Inflation vs Patience and Other Headwinds
Friendly Wholesale Inflation vs Patience and Other Headwinds
Abstract
The Producer Price Index dropped 0.3% at the core level (or 0.2% after last month's negative revision) This was enough for stocks and bonds to rally in early trading. The pattern is familiar by now: friendly inflation data or Fed comments lead both sides of the market to stronger levels, and vice versa. The rally brings yields deeper into the territory seen in late September and early October. There are all sorts of technical considerations in this range.
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