FUNDSTRAT: “A whopping 59% of #CPI components are now in outright deflation, a leap of 800bp in a single month .. the bond market got it right. Inflation is undershooting the Fed and consensus view ..” @fundstrat  

#RIP Bob McGrath — “one of the four non-Muppet castmembers when Sesame Street debuted on public television stations of Nov. 10, 1969.” @THR #RIP “People In Your Neighborhood”

Inflation that drove 2021 price increases “was transitory after all,” writes the @FT. Now, it’s “more profit margin expansion than wage cost pressures.” ⁦@LONGCONVEXITY⁩ #FOMC   https://foxdeo.com/Zute.tnk