US PPI rises above consensus, triggering market reactions🤝
US PPI jumped 0.5% in September with a 0.3% bump in core, both above consensus expectations but a small amount. The YOY rate jumped to 2.7% for the highest print since April, with pressures coming from good prices which jumped 0.9%, energy prices jumping 3.3%, and food prices also showing 0.9% gains. Markets saw knee-jerk selling in both fixed income and equities on the print, sending the treasury yield curve 2.5bp flatter and SPX down -0.3% for its highs.
#macro #EnergyPrices #FoodPrices #TreasuryYield #EquityReactions