Banks Selling What They Can

Our field trip to NYC, bear steepening persistence, inflation summary, the Dreaded DOT Plot

We are resending this week’s note, during the editing process in NYC the final section of our inflation discussion was omitted.

Sell What You Can

The August CPI report did not alter the broad disinflationary trend, though it lowered the probability of the death of the last rate hike DOT. CPI also whipsawed investors for the second consecutive month, the …