A host of data this morning reconfirms the favorable view of the domestic economic backdrop that has been taking hold for a while now. We have further evidence of an improving U.S. labor market from the initial Jobless Claims data.
The wholesale inflation data appears to show some pricing pressures building in the supply chain, but there is no reason to doubt the Fed’s assuring comments from last week that inflationary pressures will likely prove to be temporary.
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