A.M. Update – CPI HOT

S&P futures are down -1.25% after CPI came in hotter than expected. Total CPI was up 0.4% in March (consensus 0.3%) following a 0.4% increase in February; and up 3.5% YoY. Core-CPI, which excludes food and energy, was up 0.4% in March (consensus 0.3%) following a 0.4% increase in February, and up 3.8% YoY. The…