Morning Note | February 10, 2022

Good Morning!

Futures are lower after a hotter-than-expected inflation report is pushing yields up near 2.0%. January CPI hit a 40-year high with a +7.5% annual gain in prices. Consensus was looking for +7.3%. Excluding food and energy, core prices were up by 6.0%, the largest jump since 1982. USD weakness turned into strength as the report was released.…