Deutsche Bank-DBDaily All eyes on US CPI today-106980001

DeutscheBankEconomicsDateResearch12March2024DBDailyGlobalAlleyesonUSCPItodayAlleyesonUSCPItodayPhilOdonaghoeUSA:NYFedinflationexpectations(Feb):5yraheadat2.9%,upfrom2.5%EconomistJPN:GDP(Q4):Revisedtoa0.1%qoqrisefrom-0.1%qoqinitialprint.+61-2-8258-1606JoinDBforawebinarontheUSCPIreport.9amNewYorktimetoday.Registerhere.USequitieswereatouchsofterMonday,S&Pdown0.1%.US10yryieldsup2bpsto4.10%.AtreadingwatertoneaheadofUSCPI.China'sheadlineCPIsurprisedtotheupsideat0.7%yoyinFebruary.YiXiongFigure1:MarketSummarynotesthatwhiletheLNYholidayplayedalargerole,themagnitudeofpricehikesexceedsregularseasonalpatterns.Thatsaid,Yi'soutlookhasnotmateriallyEquities5117.94-0.1%FX1.0926-0.15%changed:hestillexpectsCPIinflationtodropinMarch,andwilllikelystayonlyS&P500501.49-0.4%EURUSD146.970.06%modestlypositivefortherestof2023.Stoxx6000.1%USDJPY1.2811-0.28%FTSE7669.23-2.2%GBPUSD1.3481-0.04%JimReidonGeopolitics:2000yearsoflong-termcharts.ThebiggestlessonJimNikkei22538820.491.3%USDCAD0.6613-0.17%drawsfromthechangingnatureofeconomic,militaryanddemographicpowerCSI300AUDUSD0.6170-0.11%acrosstheworldisthatintheworldofgeopoliticsandinternationalrelations,thereVIX3589.260.48NZDUSDarefewpermanentfixtures,onlyconstantchange.15.22DebtCommoditiesUST10UST24.100.02Oil82.410.4%SFR40.2%4.540.06Gold2182.050.5%1.0%4.740.03CRB277.98Copper392.95Source:Deut...