Daily Wrap – Hot CPI Sparks 10bp Jump In 10-Yr.

The Consumer Price Index (CPI) didn’t go the markets’ way this morning, coming in hotter than expected, accelerating MoM, and rising for a 7th consecutive month on a MoM basis. Total CPI was up 3.0% year-over-year, versus 2.9% in December, while core CPI was up 3.3% year-over-year, versus 3.2% in December. Source – U.S. Bureau…