- Prelim was 53.3
- Prior was 51.0
- Circumstances 50.4 vs 50.7 prelim
- Expectations 54.6 vs 55.0 prelim
- 10year inflation 4.2% vs 4.1% prelim (prior was 4.5%)
- 5-year inflation 3.2% vs 3.2% prelim (prior was 3.4%)
Within the preliminary report, the massive shock was the drop in inflation expectations. Now that tends to correlate with gasoline costs so I would take it with a grain of salt however the Fed will see it as validation for chopping charges, notably when mixed with the softer CPI report this week.
All that mentioned, the market is seeing only a 20% likelihood of a January charge minimize and simply over 50% for March.
This text was written by Adam Button at investinglive.com.
