Joel Elconin – CPI Surprises To The Low Side, Investors Pile Back Into Everything
There is a lot of green on the screen today! The October CPI rose .4% headline and .3% core, both two tenths below expectations. The headline y/o/y increase was 7.7% vs 8.2% in September. The core rate was higher by 6.3% y/o/y after the 40 yr high print of 6.6% in the month before. This has investors thinking the Fed is close to being done with rate hikes and they are piling into to everything except the US Dollar.
Joel Elconin, Co-Host of the Benzinga PreMarket Prep Show and Editor of the PreMarket Prep website joins me to share his thoughts on the CPI inflation data and related major moves higher in the markets. We discuss everything from US markets, gold, US dollar, yields and Bitcoin.