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15.06.26 - 14:24
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The Bond Market Already Looked Through The Inflation Headlines (ZeroHedge)
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The Bond Market Already Looked Through The Inflation Headlines
Authored by Lance Roberts via RealInvestmentAdvice.com,
? May Inflation of 4.2%: Media Narrative Misses Reality
The May inflation print landed on Wednesday, and the doom crowd pounced. Headline CPI reaccelerated to 4.2% year over year, the hottest reading since April 2023, and the “inflation is back” choir was in full voice within the hour. I want to push back on that, because two weeks ago I made exactly this argument in “Why The Doom Crowd Is Watching The Wrong Indicator,” and this May inflation print is the clearest confirmation yet. The scary headline is not a broad inflation breakout. It's an oil bill.
Strip the May inflation print open, and the story falls apart on the first page. Energy prices jumped 3.9% in May alone and are up 23.5% over the past year, and that single category accounted for more than 60% of the entire monthly increase in the all-items index. The high correlation between oil prices and th...
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15.06.26 - 12:01
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Warsh faces bind between Trump, inflation after scorching new report (The Hill)
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Federal Reserve Chair Kevin Warsh is facing a major challenge ahead of his first monetary policy meeting leading the central bank on the heels of an alarming May inflation report. The Federal Open Market Committee (FOMC) is almost certain to keep rates unchanged at the end of its two-day meeting Wednesday, even after the latest......
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15.06.26 - 10:36
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Finland Inflation Climbs To 26-Month High (AFX)
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HELSINKI (dpa-AFX) - Finland's consumer price inflation accelerated in May to the highest level in more than two years, driven primarily by higher transport charges amid rising fuel prices, data f......
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15.06.26 - 09:48
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Germany Wholesale Price Inflation Eases (AFX)
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BRUSSELS (dpa-AFX) - Germany's wholesale price inflation eased in May largely due to the reduction in the energy tax on mineral oil products, data from Destatis showed Monday.Wholesale prices incr......
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15.06.26 - 03:39
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The Inflation Sh*t Is Hitting The Fan (ZeroHedge)
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The Inflation Sh*t Is Hitting The Fan
Submitted by QTR's Fringe Finance
This week was proof that the inflation story that markets desperately want to go away refuses to cooperate. It also adds to the case that new Fed chair Kevin Warsh could have his hands tied — and may ultimately need to redefine inflation to untie them.
This week the Bureau of Labor Statistics reported another really ugly wholesale inflation print, adding to a growing pile of evidence that inflation pressures are proving far more persistent than policymakers, economists, and investors had hoped.
The Producer Price Index rose 1.1% in May, well above economist expectations of 0.7%. On a year-over-year basis, wholesale inflation accelerated to 6.5%, the highest reading since November 2022.
Even though core PPI, which excludes food and energy, came in slightly below expectations at 0.4% versus estimates of 0.5%, that distinction shouldn't provide much comfort. The headline figure remains extraordinarily elevated, and ...
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