Big Banks Say a Recession is Just Around the Corner Markets had another frothy week before rebounding sharply Thursday to salvage the losses after an above-expectations inflation print. Starting with inflation, CPI came in at 8.2%, slightly above the consensus expectation of 8.1%. Core CPI (CPI minus food and energy) came in at 6.6%, the highest yearly gain for core since August 1982. With inflation appearing to be more pernicious than many expected after recent rate hikes, the odds of a dovish pivot are seeming less likely.
Konza Newsletter #17
Konza Newsletter #17
Konza Newsletter #17
Big Banks Say a Recession is Just Around the Corner Markets had another frothy week before rebounding sharply Thursday to salvage the losses after an above-expectations inflation print. Starting with inflation, CPI came in at 8.2%, slightly above the consensus expectation of 8.1%. Core CPI (CPI minus food and energy) came in at 6.6%, the highest yearly gain for core since August 1982. With inflation appearing to be more pernicious than many expected after recent rate hikes, the odds of a dovish pivot are seeming less likely.