Investors were torn between a stronger than expected CPI report and a weaker than expected unemployment claims report. One showed inflation running hotter than expected and the other showed the economy looking weaker than expected. It's the worst of both worlds" - Jack Ablin, chief investment officer at Cresset Capital (per Reuters).
Federal Reserve policy-maker Raphael Bostic said he would be "totally comfortable" leaving rates on hold next month, following the inflation data. “This choppiness to me is along the lines of maybe we should take a pause in November. I’m definitely open to that,” Bostic told the Wall Street Journal.
The above quotes pretty much sum up my confusion and concerns last night ... PPI inflation figures out tonight.
At Syd Airport waiting for 12.30pm departure for 3 flights over 36 hrs to arrive at Quito in Ecuador 3am local time !!!!
May have to pin during a 2 hr in plane stop over in Auckland if no internet across the Pacific.
