CPI Ticks in Higher Than Expectations

The inflation issue remains persistent. This is the message we’ve gotten this morning from March Consumer Price Index (CPI) report, which has riled pre-market trading to a notable extent. That’s putting it rather mildly. Ahead of this print, we were +115 points on the Dow, +13 points on the S&P 500 and +49 points on the Nasdaq. Fifteen minutes after the release, we’re now -490 points on the Dow, -77 on the S&P and -225 points on the Nasdaq. Swift and sharp. The 2-year and 10-year bond yields leapt from 4.72 ...