Morning Note | September 13, 2023 | Hotter Than Expected Core

Sep 13, 2023

∙ Paid

Summary

August CPI rises 0.6% on the headline and 3.7% from a year ago, slightly above consensus.
Core CPI rises 0.3% and 4.3%, slightly higher than estimated.
Fed Fund futures show a 94% chance that the Fed does nothing next week and a 55% chance of a 25 bps increase in November.
CCIF increased by 80%, BSL, BGB, and BGX increased mid-single digits. EIC in…