Daily Wrap

Today was an interesting, somewhat odd day. Headline CPI came in hotter than expected at 3.4% year over year, from +3.1% in November and hotter than the +3.2% consensus view. Core CPI which excludes food and energy rose 0.3% MoM as expected, dropping the YoY change below 4.00% (3.93%) for the first time since May…