Yesterday's PPI came in below estimates at 0.1% vs. 0.2% for the month on month reading. The core reading was flat month over month, meaning food and energy made up for the increase in the headline number.
Stocks rallied and yields fell. The 2y is 3.94% and 10y is 3.85%. We’ll see what CPI says today, I’m sure rents and OER will be a topic of discussion.
Since CPI is so important I don’t think I can write anything else today.
XTOD: Starbucks CEO Laxman Narasimhan recently said that he doesn't work past 6pm and that if anyone at Starbucks gets a minute of his time after 6 pm they "better be sure that it's important." He was just fired today.
XTOD: There’s been a record number of CEO ousters at US companies this year. Of the 191 chief executive officers who have left companies in the Russell 3000 Index this year, 74 were considered to be fired or forced out
XTOD: Gosh, it almost makes one wonder where the willingness/ability to pay those higher prices came from in the first place
XTOD: Mastery requires lots of practice. But the more you practice something, the more boring and routine it becomes. Thus, an essential component of mastery is the ability to maintain your enthusiasm. The master continues to find the fundamentals interesting.
XTOD: Beyond the basics, money doesn’t make you happier because, beyond the basics, nothing makes you happier.
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