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Bearish Correction Still In Play

The key US August CPI comes out.....>

US DATA PREVIEW
US DATA PREVIEW: The key US August CPI comes out at 8:30am ET Thursday morning;
the MNI poll of economists had median estimates of 0.3% August CPI and 0.2% Core
CPI.
- An MNI Main Wire CPI preview noted in the past few months, headline and core
CPI have been overestimated, as has been the case in recent August reports, with
the exception of August 2016. The forecasted upswing in headline CPI is expected
to be driven by a boost in energy prices from Harvey, but analysts say that the
brunt of Harvey's impact will come in September.
- The story also said, "A rebound for core CPI is seen as critical to the FOMC's
decision on December rate hike" but "may prove difficult for bond markets to
absorb, as they have already priced low odds on a December hike due to the
devastating hurricane impacts."