Markets Enjoy More Incrementally Good Inflation News

Although it's only as good as this week's CPI report and, after that, the first read on January inflation expectations from the University of Michigan poll, markets were handed another incremental nod to peak price growth on Monday, when the New York Fed consumer survey tipped yet another decline. Median year-ahead inflation expectations dropped to 5% for December, the lowest since July 2021. Three-year-ahead expectations were unchanged at 3% which was acceptable, all things considered. Techni