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Don’t Buy The Spin: The US PPI Release Was More Bad News
A day on from a disconcertingly warm CPI report which prompted traders to price out one of the only two remaining 2025 Fed cuts in the forward curve, US wholesale prices likewise overshot.
Headline PPI growth ran 0.4% in January, the BLS said, warmer than the 0.3% consensus. The range of estimates from more than four-dozen economists who, if you can believe it, get paid handsomely to guess at such things, was 0.2% to 0.6%. December's headline readout was revised sharply higher to reflect a 0.5%
