Stocks, Gold, Yields Tumble After 'Hot' PPI
US equities are extending post-FOMC losses following a hotter-than-expected producer price print. Bond yields and bullion prices are also tumbling as the dollar holds on to its gains...
Gold and stocks are lower as bond safe-havens are bid...
US equities are quickly erasing the week's gains...
The major indices are breaking or testing back to critical technical levels...
As the dollar extends post-Powell gains...
However, anxiety over the hot-flation print seems overdone as Ian Shepherdson notes - the crude collapse means this is the peak for now...
The next big, sustained move in core PPI inflation will be to the downside. pic.twitter.com/4FRsDvmIda
— Ian Shepherdson (@IanShepherdson) November 9, 2018
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