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I hope that everyone had a good ChopEx trading week! Now it's time to grab your favorite beverage and dig into this weekend's Navigating the Markets.
The Big Picture
CPI came in lower than expected, across the board. Even Core CPI is showing signs of improvement as it graced 4% year-over-year. Monthly core also decelerated from 0.3% to 0.2%, demonstrating that even on smaller time scales we are seeing some welcome slowing.
Slowing inflation tends to mean slowing demand, however, and that slowing demand is likely to weigh on Q4 GDP as we see signs that consumers are slowing and the positive fiscal impulse from sizable late cycle government spending is wearing off.
