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July PPI -3

09:51 14-Aug-25


Both the headline and Core PPI numbers for July at least tripled estimates at +0.9%.  This was primarily due to an over two year high in service prices, but goods also rose the most since January.  American equity futures were already negative, and as ever, they ignored this report.  I've waited for any reaction, but the same goes for currencies and FedWatch.  Nonetheless, I continue to see this as more forward-looking and thus important than Tuesday's CPI data.