Well, that’s annoying. The CPI numbers came in precisely, exactly, on-the-dot where they were assumed to, and in response equities have rocketed higher. (OK, let’s not all have heart attacks; we’re talking about gains of about 0.45% to 0.77%). Anyway, not a great start.
Still, this isn’t the first time we’ve seen these sudden bursts, which recently have tended to fade.
There’s little else to say now except give it a couple of hours. Things have been going fantastic lately, so I guess some headwinds shouldn’t be taken as some kind of surprise.
