US Inflation is back?. Core Services ex Housing CPI rose by 6.7% on a 3-month annualized basis. That's huge. In fact, during the 'inflation crisis of 2022,' there were only three months in which Core Services ex Housing inflation was higher.
Y un repunte de inflación recuerda a lo que pasó en los años 70:
Mohamed A. El-Erian dijo ayer:
Wondering how a small miss on the US #inflation numbers can result in such a spike in yields on US government #bonds (2- and 10-year below)?
A lot of it has to do with the extent to which #markets had embraced, subject to limited critical thinking, the narrative of a very soft landing that allows for sizeable early cuts by the #FederalReserve.
Today’s data release does more than serve as a soft reminder of the challenges of the last mile in the inflation battle. It also points to complex analytical issues (such as the level of the neutral rate) and the insensitivity of certain sectors of the #economy (e.g., services) to higher interest rates.
Abrazos,
PD : Hoy pasa de todo : Miércoles de Ceniza: ayuno y abstinencia. Inicio de la Cuaresma. Días de penitencia y mortificación. Y por supuesto de hacer una buena confesión.
A su vez, 14 de febrero, día de los enamorados. Día de las mujeres y los sacerdotes… Mucha felicidad…
