No se puede tener un 0,4% de inflación cada mes… Se dejó de mirar la interanual y se centran los inversores en la mensual
La visión de El-Erian sobre la inflación:
US CPI inflation came in hotter than expected for the third straight month ... and the result is continued price pressure on consumers, which hits the poor hardest, and a sharp market reaction.
Both headline and core prices rose 0.4%, bringing the annual measures to 3.2% and 3.8%, respectively.
Services led the way, but they were far from the only drivers of the hotter inflation.
Yields immediately surged higher, with the 2-year currently trading above 4.92% and the 10-year nearing 4.50%.
The market is now pricing less than two Federal Reserve cuts this year as it takes another step in the "later and fewer" direction for the excessively dependent Fed.
The major stock futures indices are down over 1%, and the dollar is stronger.
All this puts the Fed in quite a tricky position -- one in which it should take a holistic view of what's ahead for the economy as a whole. But will it?
Ya sabemos que los bienes han bajado, que la energía no afecta, son los servicios. Es difícil frenar la inflación de servicios:
Y la subyacente:
Tumbó el mercado de bonos:
Y los cortos casi en el 5% de nuevo:
El dólar se fortaleció y las bolsas bajaron…
Abrazos,
PD: No te preocupes demasiado por las cosas…
