Daily Note | November 14, 2023 | CPI Falls A Bit More Than Expect, Risk Assets Take Off

Today was CPI day and we finally saw the cracks in inflation appear more significantly even though headline number was flat for October, +3.2% y/y, with Core at +4.0% y/y, both below expectations. 

• 3-mo ann rate was +3.4%, vs +3.1% in Sept

• 6-mo ann rate was +3.2% vs +3.6% in Sept

• 12-mo rate was +4.0%, the smallest increase in 2 years

• Housing +6.7% vs. +7.1%…