Outlook: Today we get import prices, the Philly Fed’s Harker, and the University of Michigan consumer sentiment index(expected down to 67.4 in Oct fro
Outlook:Today we get import prices, the Philly Fed’s Harker, and the University of Michigan consumer sentiment index. We say the talk of a “new theory” at the Fed, using yield gains as a substitute for a rate hike, is hogwash. It’s not a theory and the Fed did not embrace it. And because it’s Friday, most bets should be off and especially this time, as we await the Israeli ground invasion of Gaza. But Friday the 13thbeing an unlucky day is hogwash, too.
“Today’s CPI release is the last month with that adjustment; with the October CPI, to be released next month, the health insurance CPI will flip, adding further upward momentum to the CPI readings, instead of pushing them down.
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