Whip It! Inflation (CPI) Comes In Hotter Than Expected, 10-Year Treasury Yield Jumps (Owners Equivalent Rent of Residences YoY Rose 3.2%)

Whip it! Inflation, that is.

According to the Bureau of Labor Statistics (BLS), in January, the Consumer Price Index for All Urban Consumers increased 0.5 percent seasonally adjusted; rising 2.1 percent over the last 12 months, not seasonally adjusted. The index for all items less food and energy rose 0.3 percent in January (SA); up 1.8 percent over the year (NSA).

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The CPI MoM did come in hotter than expected, leading the 10-year Treasury yield to tick-up.

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Real hourly earnings YoY rose to 0.8%. While the CPI for Owners Equivalent Rent of Residences YoY rose 3.2%.

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And the US Treasury Inflation Indexed Curve fell to almost -2.50 for 1 month.

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“See, I told you that inflation was just around the corner!”

yellenwhipit

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