Fireworks for Inflation Day
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Tuesday 14th Februarey 2023
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US CPI is released later today and NAB\\u2019s Rodrigo Catril says we can expect a market reaction whichever way it comes out. Certainly, markets are divided, with bond yields rising today suggesting rising expectations for central bank hikes, whereas equities are also up suggesting an easier path. That expectation of a path with less rate hikes comes from a New York Fed Inflation Survey which showed that household income is expected to fall this year, which it is assumed will ease price pressures. But we\\u2019ve also seen evidence of US retail spending picking up post-Christmas. Clearly opinion is divided on today\\u2019s number so, as Rodrigo puts it, \\u2018expect fireworks\\u2019.
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