Part two of the inflation data came today via the PPI and University of Michigan Sentiment (after yesterday’s CPI), and investors were made uncomfortable by more than just the heat of the summer sun. This week’s economic data pitted the two sides of the inflation argument against each other. Inflation bulls looked at the shelter component of CPI yesterday, which is turning negative, and implies downside inflation pressure. Meanwhile, bears were watching drivers of disinflation turning higher (S…
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