by ZeroHedge News Staff at ZeroHedge
For all the talk of the world being on the verge of nuclear war courtesy of the dementia patient in the White House, a real life financial nuke just went off at 8:30am when the BLS reported a shocking CPI print so unexpectedly hot ( a 2.9-sigma upside surprise to consensus), that even the bears were shocked. The result was… well, an absolute disaster doesn’t even begin to cut it.
And as one would expect, alongside the shock and awe there was a barrage of delightful soundbite to go along with Wall Street’s reaction. Below we have summarized some of them:
Andrew Brenner, head of international fixed-income at NatAlliance Securities.
“Horrible CPI number… what will the Fed to do on interest rates: Will they go 100 basis?”
Jim Caron. Morgan Stanley Investment Management.
“It is brutal… I do think that prices will start to moderate — I thought that this would already be happening at this point,” he tells Bloomberg TV. The issue now is that inflation has moved from the goods sector and has permeated into the services sector.”
Chris Antsey, Bloomberg senior editor
“For Democrats, this is a disaster. Today’s is the final CPI report ahead of the Nov. 8 midterm election. You can bet that Republicans will be hitting this hard — worst inflation in four decades.”
Nick Timraous, Fed mouthpiece at the WSJ
For the Fed, the September CPI report seals the case for a fourth consecutive 75-basis-point hike. It calls into question the modal outlook from three weeks ago—that the Fed might be able to stop raising rates after 50 bps in December and 25 in February
Dennis DeBusschere, founder of 22V Research,…
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