Nothing To See Here

There was no shortage of hype around Friday's annual CPI revisions from the BLS. For once, you can't blame the excitable media. Fed officials, among them Jerome Powell and Chris Waller, flagged the revisions as potentially pivotal for the trajectory of monetary policy as the Committee ponders when to commence so-called "insurance cuts." Long story short, there was some concern that the update might suggest recent disinflation progress was illusory. Those worries stemmed from last year's revisi

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2 thoughts on “Nothing To See Here”

Thanks for presenting this. What I’m seeing now is that despite two stellar treasury auctions in the 10s and 30s and inflation revision being a nothing-burger, secondary markets are ignoring this and grinding higher. CPI next week is going to be an eye catcher, but it feels as if the market has shifted to pricing in 5-6 cuts to “prove to me me that we should still be pricing in 5-6” cuts.

Thankfully, you like to hear yourself “talk”. You’re readership ( those who like to hear you talk) should, by all rights, be in the millions.
For those who are missing out on listening- it is their loss.