Welcome to the DC Today, your daily market synopsis of the Dividing Cafe, brought to you every Monday through Thursday to bring you up-to-date information and perspective on financial markets.

Welcome to DC Today. It is Wednesday, April the 10th, in what for the week at least so far has been the largest down draw on the day.

We were down 422 points on the day, which is a little over 1%.

1.05, to be exact, on the Dow.

The NASDAQ and S&P were both down as well, although less than 1%. So in point terms,

it sounds probably worse than I suppose it is. You know, these types of ups and downs just happen in

markets. It's what they do. But it was surrounded around the CPI number that came out on both

core and headline. That was an entirety of one-tenth higher than we expected so we

were expecting 0.3% for both headline and core we got 0.4% on both year over year headline was 3.5 we

thought it would be 3.4 and core was 3.8 and we were hoping for 3.7. Keep in mind on core last month was also 3.8.

So it's not that it went up. It's just that it went the same and it didn't go a little down like we

were hoping for. So markets were upset about it and pretty much were down all day long.

Interest rates were the bigger news. The 10 year closed up 18 basis points, which on a single day is a pretty decent move

up in interest rates.

And part of it was because of hiring the CPI number that came out.

And the other part of it was there was a 10-year bond yield, $39 billion that went poorly.

Those two things are tied together,

you know, rates going up and the bond auction not going as well as far as bid to cover goes.

So there you have it on the day.

The PPI numbers, you know, like I said, they were a tenth higher, so 0.4% for the month.

If you look at what was inside of those numbers and kind of open the hood, food was only up 0.1% for the month and up 2.1% on the year.

Energy, which was up 1.1% for the month, so a big move up on the month.

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