The DC Today - Wednesday, September 13, 2023

Episode 699: The DC Today - Wednesday, September 13, 2023

A heavily anticipated news day for markets with August CPI

Show notes

Today's Post -

Today was a heavily anticipated news day for markets, with August CPI coming largely in line with expectations at .6% on headline inflation for the month and 3.7% year-over-year. As we had expected, higher energy prices moved that headline number, with gasoline specifically up 10.5%, which accounted for almost half of the total move higher in CPI. The Fed pays more attention to core CPI (ex food and energy), which was up .3% on the month and stands now at 4.3% y/y. All said, we got about what we had expected today: decreasing shelter costs offset a rise in energy prices to some degree, and Fed futures didn’t budge much. Yields were up a few basis points across most of the curve, and stocks held in.

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Brian Szytel

Brian Szytel

Brian Szytel is the Deputy Managing Partner and Co-CIO of The Bahnsen Group.

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