Last week’s biggest headline was consumer price inflation (CPI) which registered +5.0% y/y in May, the first “five-handle” US inflation print in nearly 13 years. Under the covers, however, the report was less alarming. Core CPI, which strips out volatile food and energy prices, was just +3.8% y/y. Moreover, more than half of the total […]
Bit of a roller coaster last week as inflation fears returned to the foreground. Things calmed down a little bit on Friday, allowing stocks to recoup some of their losses.