Housing inflation refuses to cool for eighth month, and five of the remaining seven core services accelerated further. This is not good.
Including by 7.9% annualized for the not-seasonally adjusted PPI, worst since June 2022. So we’ll take a look.
A Bloodbath was had by all?
Ugly inflation in services drives up 3-month “core CPI” for 7th month, to 4.5% annualized, worst in a year, and 3-month overall CPI to worst since Nov 2022.
“Rates have been extremely low for a long time — it’s hard to know how many investors and companies are truly prepared for a higher rate environment.”
And there were big upward revisions of the already hot readings for January.
But banks are having profit problems.
The record 1.27 million immigrants that arrived last year have to live somewhere.
And that’s very disconcerting.
“It seems unlikely that yields are going to go back to being as low as they were before the pandemic”: Yellen.