Is this the end of the long national nightmare? This morning’s release of the June PPI came in slightly higher than expected on both the headline and core readings, and that has sent US Treasury yields slightly higher moving the yield curve (10-year vs 3-month) out of inverted territory (for now). Just when everyone had written off inflation forever, CPI and PPI both came in higher than expected.
Read today’s Morning Lineup to get caught up on news and stock-specific events ahead of the trading day and a further discussion of overnight events in Asia and Europe.
As mentioned above, the yield curve has briefly moved out of inverted territory for the first time in 35 trading days. There’s still an entire trading day left to go, but if this trend holds, it’s the story of the day.
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