ZH: Nike 'permanently' laying off 740 employees at world headquarters
ZERO HEDGE writes: US athletic footwear and apparel company Nike announced late in the cash session on ...
ZERO HEDGE reports:
Expectations for a 0.1% MoM drop in CPI has set the squeeze-algos on fire in recent days as the small drop signals ‘peak inflation’ and goldilocks and a unicorn-filled Fed will step back and declare victory (with a lag). Short-term interest-rates – however – have not been buying that dovish story, so how the market reacts to today’s print will be fascinating given the technical background of extreme negative delta and positioning, and now momentum. The market was pricing in a 90% chance of a 75bps hike by The Fed next week ahead of the CPI print.
Headline CPI came hotter than expected rising 0.1% MoM vs expectations of -0.1% MoM. That is the 27th straight month of rising inflation. And while the ascent in energy fizzled, with the energy index increasing 23.8% for the 12 months ending August, a smaller increase than the 32.9% increase for the period ending July, the big shock was the food index which increased 11.4% over the last year, the largest 12-month increase since the period ending May 1979, while the food at home index rose 13.5% the largest 12-month increase since the period ending March 1979…
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