Daily Note | March 14, 2024 | VFL Increases By 20%

Stocks are lower after a 'hot' producer price index ("PPI") report showing wholesale inflation rising +0.6% last month. Core PPI was up +0.3% but estimates for both were +0.3% and +0.2%, respectively.

Interest rates are moving up as investors price in the possibility of far less rate cuts this year - or even as Apollo's Torsten Slok believes - no cuts at…