I have no idea how much correlation there is between the PPI (released this morning already) and the CPI (tomorrow morning, obviously, since it’s all everyone is talking about). I was pleased, however, to see the PPI come in TWICE the forecast.
This one data point shut the bulls up in a big, big hurry.
Evidently, tomorrow morning’s data is vastly more important. The rightmost figure is the prior month, whereas the middle column shows the forecast. Anyone with a lick of sense is apprehensive about this, since it could go HARD either direction. We’re at a crucial inflection point. Obviously I hope that God’s favorite creates (equity bears) prevail over the bulls, but I guarantee my heart will be going pitter-pat at 8:29:59 EST Thursday morning.
