Limited Follow-Through After Shockingly Big Miss
Limited Follow-Through After Shockingly Big Miss
If you told the average trader that today's core CPI would come in at 2.6% vs 3.0% year over year, they would have expected a much bigger reaction than we saw today. Ironically, the size of the miss may be one of those reasons. It's so far outside the realm of expected possibilities that traders immediately assumed the presence of legitimate issues with November's data collection. Nonetheless, it was worth a moderate extension of the overnight rally.
Limited Follow-Through After Shockingly Big Miss
| Time | Event | Period | Actual | Forecast | Prior |
|---|---|---|---|---|---|
| Friday, Dec 19 | |||||
| 10:00AM | Dec Sentiment: 5y Inflation (%) | Dec | 3.2% | 3.4% | |
| 10:00AM | Dec U Mich conditions | Dec | 50.7 | 51.1 | |
| 10:00AM | Dec Consumer Sentiment (ip) | Dec | 53.4 | 51.0 | |
| 10:00AM | Dec Sentiment: 1y Inflation (%) | Dec | 4.1% | 4.5% | |
| 10:00AM | Nov Exist. home sales % chg (%) | Nov | 1.2% | ||
| 10:00AM | Nov Existing home sales (ml) | Nov | 4.2M | 4.1M | |
| Monday, Dec 22 | |||||
| 1:00PM | 2-Yr Note Auction (bl) | 69 | |||
