Daily Note | February13, 2024 | CPI Comes In Hot

THIS ERRONEOUSLY DID NOT POST YESTERDAY

Today is CPI day and it was much hotter than expected - in line with Goldman's assessment that I posted yesterday. Stocks are down big and slated to break the steak of no-down 2%+ days.

The CPI was +0.3% for January, relative to December and up +3.1% y/y. That's about one-tenth hotter than expected and two-tenths on the annual.

Core was the same, up an ex…