'Team transitory' gets a win - Alpha Trader looks at the inflation numbers
This week’s Alpha Trader podcast features hosts Aaron Task and Stephen Alpher discussing the latest macro topics. Technical difficulties kept our guest - RSM Chief Economist Joseph Brusuelas - from the recording, but we were able to speak with him offline and relay some of his thoughts.Among the topics:“Team transitory” got a win with Tuesday morning’s softer-than-expected inflation report, says Brusuelas, but - with the CPI continuing to run at north of 5% - it’s still to early to declare victory.Stocks initially rose on the slow inflation number, but finished the day with losses. Investors may have gotten complacent after what seems like months with no downturn lasting for more than a few hours, but September - so far - has been a return to reality, with the S&P down about 3% in the first couple of weeks of the month.Meanwhile in China, that country’s leadership reminded everyone that they can send a sector down sharply at any point. This week it was the casino sector that drew some comments from Beijing, sending some of those players down double digit percentages.Learn more about your ad choices. Visit megaphone.fm/adchoices