Futures Plunge, Yields Spike As CPI Fears Realized
Well there you go folks.
CPI blew through estimates and it looks like everyone's worst fears were realized - at least temporarily - when it comes to the knock-on effect for bonds and equities.
10Y yields are rising fast (although maybe not as dramatically as you'd think):
And the knee-jerk in stocks was "big league".
Dow futures plunged 500 points on the print before pairing losses:
And here's ES:
And Nasdaq futs:
Across the pond, the reaction was swift and predictable:
“Th
More fun https://www.census.gov/retail/marts/www/marts_current.pdf and November and December revised way down…
Yeah, those bad retail numbers are worse, in the long term, than the CPI results.
….is a red sky in the morning, sailors take warning!