CPI: Holy Mackerel -- December 13, 2022

CPI: way better than expected; but services still "hot" / "high"

• CPI: up 0.1% vs 0.3% estimate
• CPI: ex-food / energy -- up 6% y/y
• Dow implied open: up 822 points
• betting
• tomorrow: 50 bp
• February, 2023: 25 bp (down from previously expected 50 bp)
  

Decisions, decisions, decisions.

• choices
• do I stay home to watch the CPI announcement live on CNBC, or,
• go on my usual morning bike ride?
• JPMorgan says S&P could rally over 10% if CPE comes in at 6.9% or under (wishful thinking; LOL) 
• here we go: see above.
  

The weather: beautiful -

• rained overnight but appears to have quit for the day;
• very breezy, which is no fun for biking; wind from the south,
• warm; already 65° -- but the high is forecast to be in the mid-60s, which makes no sense;
• tornado alert and tornado watch already in our area this morning as forecast

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Market

F-150 Lightning: MotorTrend car of the year.

Best managed companies of 2022: Microsoft tops the list, #1, but not one of the top seven All-Stars

• link here: for entire list;
• link here: for top seven All-Stars;

Tomahawk: Japan's new toy -- Peter Zeihan. 

Copper could soar: link here. 

Chart of the day, Bloomberg -- distillate: