We get the consumer price index (CPI) in 30 minutes and markets are fully expecting a number that meets the forecast or is even below forecast. The forecast is for a CPI of 6.5% and a core rate of 5.7%. Almost with doubt if the CPI comes in hot we will see bloody markets.
The 10 year treasury is at 3.55% this morning which is pretty much flat to yesterdays close with equity futures up a tiny amount. These will likely make huge moves premarket after CPI.
Yesterday was the 6th green day in a row for income issues–a person could get used to this, but probably shouldn’t. No buying or selling yesterday, but today may well nibble on an addition to my CHS holdings–I have a small holding in their preferreds so would be adding to a current position.
So let’s go–on to CPI.