Last night was fertile hunting ground, not scrub country!
For several days now, I have known polled economists were expecting CPI to cool to 3.3% in October from 3.7% in September and Core CPI (energy costs stripped out) to be flat at 4.1%.
If the reports delivered that result I figured the market would react to the big CPI drop without discounting it was gifted by significantly lower oil prices alone.
Late yesterday I read an article reasoning that both CPI and Core CPI were both primed for drops that would awaken markets.
So when the reports were release and both values beat expectations, I knew it would be on and was determined to be last man standing on the upside, particularly as bond rates and the VIX had dropped off the cliff.
In past times when I could reliably be last pinner I'd have been tempted to pin just 0.01 above you ... for the stir lol and to give myself a chance at the biggest ever DFP win.
But with John and Clark still to pin, I couldn't leave it to chance and had to pin boldly.
Zip, when you pinned early at 234, I had been mulling 250.52 8))
