Reheat? US Producer Prices Unexpectedly Warm Up

Re-cork the champagne? 24 hours after blessing the Fed with the most favorable read on consumer price growth since the onset of America's inflation nightmare, the BLS said producer prices rose twice as fast as expected in June from the prior month. Insult to injury: May's readings were revised meaningfully higher. Specifically, the headline PPI gauge rose 0.2% for June versus expectations for a 0.1% gain. May's MoM print was revised to unchanged from an initially reported 0.2% decline. Stri