As mentioned in last night's podcast, my plan today was for just a midday podcast. The best laid plans...The news of the day brings a change of plans as events require this brief morning post.
Let's start with all of the data that was dumped at 8:30 ET. First, the PPI came in lighter than expected. Is this the continued easing of inflation pressure? Note that retail sales came in soft, too. Is this finally the first significant move toward recession in that datapoint?...
