Daily Note | February 16, 2024 | Taxable CEFs Are Not Trading With The Market

Markets are on track for only their second losing week in the last sixteen. That's an incredible run. This week, we are a bit lower thanks to the hot inflation reports - CPI on Tuesday and PPI today.

The producer price index ("PPI") came in at +0.3% vs an expectation +0.1%. Core PPI came in at a very hot +0.5% vs a forecast of +0.1%.

The 10-year Treasury …