Stock market to puke on open; Treasury yields surging on inflation/recession expectation

Real wages have fallen EVERY MONTH since Biden’s $1.9 trillion "stimulus" passed.

'𝟐𝟏
Apr: -3.4%
May: -2.7%
Jun: -1.3%
Jul: -1%
Aug: -0.9%
Sep: -0.5%
Oct: -0.8%
Nov: -1.4%
Dec: -2.1%
'𝟐𝟐
Jan: -1.9%
Feb: -2.5%
Mar: -2.6%
Apr: -2.5%
May: -2.9%
Jun: -3.5%
Jul: -3%
Aug: -2.8%

— Jacki McGavick (@jackikotkiewicz) September 13, 2022

Steep fall:

https://www.livecharts.co.uk/MarketCharts/dow.php

So much for the peak inflation Fed pivot narrative. 🤷‍♂️

— Markets & Mayhem (@Mayhem4Markets) September 13, 2022

https://twitter.com/tomashirstecon/status/1569670617615433734

Largest monthly increase in owners’ equivalent rent of primary residence since June 1990 pic.twitter.com/ZKPtNNxaeH

— Liz Ann Sonders (@LizAnnSonders) September 13, 2022

JUST IN – US inflation declines slightly but remains high at 8.3%.

— Disclose.tv (@disclosetv) September 13, 2022

The CPI print today is backward looking and the headline slowing is pretty well known.

Wage growth determines if the inflationary cycle dynamic is continuing or starting to soften.

Aug Atl Fed wage tracker suggests continued upward momentum despite slowing headline inflation. pic.twitter.com/cXj0y4OuHr

— Bob Elliott (@BobEUnlimited) September 13, 2022

2 year yield explosion 3.712%

Realtors are fucked

— Don Johnson (@DonMiami3) September 13, 2022

https://twitter.com/Galactic_Trader/status/1569417764070367233

AC