Morning Note | July 12, 2023
Good Morning!
Markets are moving higher as we saw a downside surprise in CPI. The y/y headline number fell to 2.97% for June as the June 2022 hot data point fell off. The market was expecting 3.1%. Month over month Core CPI was just +0.2%, less than forecast, and +4.8% y/y (vs +5.0% expected). The 17% drop in energy prices over the last year was the …
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