Upside-Down 10/13

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Good morning, everyone. The PPI just came out, and it was twice as high as expected. So, umm, let’s review. Yesterday the CPI was expected to be 0.2% and it came in at 0.1%, a mere 0.1% difference, and the market exploded higher with the force of a Saturn V rocket. Today the PPI comes out at 0.4%, a full 0.2% (double) the expected, and as I am typing this, the market is down 0.04% on the /ES. Sigh.

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