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February PPI -2

08:51 18-Mar-26


February PPI numbers headlined at +0.7%, more than doubling forecasts.  The Core came in at +0.5%, which is a tenth higher than expected.  Though this is unlikely to budge the near certainty of a Fed hold in a matter of hours, this adds to doubts about its longer term direction.  In addition, mortgage rates have risen significantly this month.  Though the market typically gives this report little attention, it is leading, and builds on the productivity concerns raised last month, further undercutting generic AI enthusiasm.