Futures Plunge, Yields Spike As CPI Fears Realized
Well, there you go folks.
CPI blew through estimates and it looks like everyone’s worst fears were realized – at least temporarily – when it comes to the knock-on effect for bonds and equities.
10Y yields are rising fast (although maybe not as dramatically as you’d think):
And the knee-jerk in stocks was “big league”.
Dow futures plunged 500 points on the print before pairing losses:
And here’s ES:
And Nasdaq futs:
Across the pond, the reaction was swift and predictable:
More to come (of course, because you know, we’ve got to pile on).
BREAKING: pic.twitter.com/00AAjEg4Vn
— Ivan the K™ (@IvanTheK) February 14, 2018
Disclosure: None of what I write here is to be construed as advice to buy or sell any kind of asset. It is merely my personal and not my professional opinion. Any asset can go to zero.