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"Lagged" CPI finally reality of rapidly falling inflation = less pressure on Fed = YE rally

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Today's CPI was a major downside read coming in at:

  • Nov CPI
  • Headline CPI +0.1% vs Street 0.3%
  • Core CPI 0.2% vs Street 0.3%
  • Details show that the downside "soft" Nov CPI repeatable
  • Last month, our analysis showed "soft" Oct CPI was repeatable, and it was

Look below, the trend is obvious:

Food is slowing 2 months in a rowEnergy tanking, matching the roundtrip in oil, diesel and gasoline and e...

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