🚨 PPI just went parabolic — and not in the way markets wanted. Expected: 4.9% Actual: 6.0% 🤯 That’s a major inflation shock. Here’s why it matters: Higher producer costs = manufacturers raise prices. Those costs eventually hit consumers. Which means: 📈 CPI rises 📈 PCE rises 📉 Fed rate cuts get pushed further away The “higher for longer” narrative just got a lot stronger. For risk assets? Not good.