9%+

Hundred dollar car note
Two hundred rent
I get a check on Friday
But it's already spent
--Huey Lewis & the News

Another 40 yr high CPI print. Measured consumer goods and services inflation came in at a higher than expected 9.1%.

Interestingly, commodities and their associated stocks are green on the news. Also, interest rate futures are now pricing in 'policy reversal' rate cuts by early 2023.

How long before those rate cut bets start tricking into late 2022?