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What’s in Today’s Report:
- Commercial Real Estate Primer Part Two: Risks, Opportunities & Indicators to Watch
Futures are slightly higher following better than expected Chinese economic data and in-line inflation readings from Europe.
China’s new yuan loans were stronger than expected (4.92B yuan vs. (E ) 4.5B yuan) providing some anecdotal evidence that stimulus is starting to work.
On inflation, German CPI met expectations at German CPI met expectations, rising 2.9% y/y.
Today the key event is the annual revisions to the CPI data, which hits at 8:30 a.m. ET. Usually this is a relative non-event, but last year there were substantial upward revisions that resulted in more rate hikes. Point being, this can change the inflation outlook (positively or negatively) and it has the potential to move markets. Any downward revision to the 2023 CPI data should be positive for markets (yields lower/stocks higher) while any upward revisions should be negative (yields higher/stocks lower).
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