Inflation Inched Higher In January
Add another surprising data point in the column “in favor of additional interest rates hikes” for the Federal Reserve. Earlier this week, we had a positive industrial production report (and more importantly an increase in manufacturing production and capacity utilization) and now we have a decent CPI print. Not that we are going wild over a single data point, but the core-CPI did increase by 0.29% in January which is the largest monthly increase since August 2011. The year-over-year increase for core-CPI is now at 2.22%, which is the highest rate of change is May 2012. Headline CPI has increased to a 1.34% year-over-year rate which is a significant increase from the rate of change for most of 2015. Owner’s equivalent rent, which makes up a significant portion of the total CPI, increased by 3.16% on YoY% basis. This is the fastest increase since June 2007. And as the third chart below indicates, we would expect this to keep rising since the S&P/Case-Shiller Home Price Index continues to chug along higher as well.
This Tiger Cub Giant Is Betting On Banks And Tech Stocks In The Recovery
The first two months of the third quarter were the best months for D1 Capital Partners' public portfolio since inception, that's according to a copy of the firm's August update, which ValueWalk has been able to review. Q2 2020 hedge fund letters, conferences and more According to the update, D1's public portfolio returned 20.1% gross Read More