A.M. Update

S&P futures are up +0.35%, adding a little to overnight gains on the CPI report. Since January’s hotter inflation, CPI estimates have trended higher. Headline CPI came in at 0.4% MoM rise in the headline (at consensus; prior 0.3%; the highest since August), which lifted CPI YoY up to +3.2% (hotter than the 3.1% consensus)….