INTRADAY ALERT: May core CPI downside of +0.16% mom affirms rationale to buy stocks this week and into month end

May Core CPI released this am and it was a huge downside reading at +0.16% mom versus +0.28% consensus

  • The driver of the downside read was several but the most important was auto insurance
This was adding +0.06% to core last month and was zero this month (+0.0%) Huge difference and a major positive as this is a sign that auto insurance surge is peaking. We have stated previously that CPI is being held up by housing and auto insurance and now 1 of the 2 is brea...

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