Markets Sell-Off on Hot Inflation, Bad Consumer Sentiment
Jun 10, 2022
• 4
Min Read
Good Evening:
Markets were thrashed on Friday by a white-hot CPI print and also the lowest level for the University of Michigan Consumer Sentiment survey in the entire history of the indicator. Over the last year, Energy rose 34.6%, with gasoline even higher, and groceries jumped 12%, but the levels of inflation were pretty broad-based, even excluding these more volatile items. The print definitely make it a lot less likely that any doves will be taking flight at the Fed soon. Some market commentators even speculated the 75 bps hikes were back on the table for the Fed meeting next week in ...