Daily Wrap

Like CPI yesterday, the Producer Price Index (PPI) came in hotter than expected this morning. The Producer Price Index for final demand increased 0.4% month-over-month (consensus 0.2%) following an upwardly revised 0.5% increase (from 0.2%) in December. Excluding food and energy, the index for final demand increased 0.3% month-over-month (consensus 0.3%) following an upwardly revised…