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Retail Wrecking Crew Hammers Hedgies Again; Stocks/Powell Shrug Off Stagflation Signals
Retail Wrecking Crew Hammers Hedgies Again; Stocks/Powell Shrug Off Stagflation Signals Hot PPI initially spooked markets (yields and dollar up, stocks down) but that faded fast (on lower revisions) - but the stag-flation trend continues this week... Source: Bloomberg Powell did briefly spook stocks around 1030ET with the following comment: "it's a possibility - but I dont think it will be the case - that the next action we take will be a rate hike... most likely we will stay
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