The August producer price index report is out and headline PPI came in a tad hotter than expected at 5.4% year over year vs. the 5.3% consensus and 4.7% in July. Core inflation came its expected, up 4.6% year over year from 4.2% in July.
In response, the 10-year Treasury yield is moving higher, approaching 4.9% and the rate hike expectations tracked by the CME FedWatch Tool are likely to move higher. We’ll get a snap of those expectations as the market has a chance to digest more of this morning’s PPI data.
With 30 years of cross-industry experience, Chris Versace brings his thematic investing lens to TheStreet Pro Portfolio (formerly Action Alerts PLUS) each day as lead portfolio manager. His daily insights, analysis, and recommendations provide the foundation for TheStreet's Pro Portfolio.
Versace began his career in equity research before founding Versace Management in 2005. He joined TheStreet team in 2011 as a Real Money contributor before becoming portfolio manager of Action Alerts PLUS in 2021. He holds an MBA from Fordham Gabelli School of Business and has co-authored a book called “Cocktail Investing - Distilling Everyday Noise into Clear Investing Signals for Better Returns.”
With a passion for teaching others about investing, Versace spent 9 years as an Assistant Professor of Finance at NJCU School of Business. When he’s not contributing to TheStreet’s premium services, he can be found speaking at industry conferences or at a Bruce Springsteen concert (he’s seen him 50 times and counting!).
