Today's Post - https://bahnsen.co/3NYiJuG

Volatility came down and markets were flat as a pancake as we got inflation numbers that were in line with Core CPI and then just barely above on Headline by a tenth for the month. Rates moved higher initially but came off during the day with 10’s down six basis points and the curve steepening a little.  I have more on CPI below and in the podcast, but markets feeling better or worse over a tenth different than expected on CPI each month is one thing but the trend is so blatantly going in the right direction with annualized CPI over the past three months now below the feds 2% target at 1.77%,  I just don’t think it’s material at this point.  Fed futures by the way agree and were unchanged on the day still at a 65% chance for a March rate cut.

Links mentioned in this episode: