12th January 2023
The latest US inflation print shows signs that cost pressures are continuing to ease with headline inflation at 6.5%, whilst core inflation (which excludes food and energy) was up 5.7%, year-on-year. Despite the fact that figures matched median forecasts, they were only modestly welcomed by investors who were expecting a more aggressive downshift in inflation which would allow the Federal reserve to reduce the pace of rate hikes, sooner. Following today’s inflation report, both the S&P 500 and Nasdaq remained flat, whilst two-year treasury yields notched higher.
Read the Full Note