The market went through an overnight futures trading session with little volatility after yesterday's sell-off. The market showed little concern for the impact of the FTX event on the brink of bankruptcy with over $8 billion in customer cryptocurrency deposits, as investors focused on the CPI data released this morning.
On a monthly basis, core CPI cooled significantly to just +0.27% compared to the forecasted +0.58%.
Accordingly, energy continues to be the strongest driver of CPI, followed by food prices.
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