Once again, inflation came in hot for a second straight month.
This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Like what you see? You can subscribeand the Topix trading lower. South Korea's Kospi rose after February's jobless rate fell to 2.
Still, core inflation — excluding food and energy — was stronger than expected, up 0.4% last month, which reflects lingering stickiness in price pressures. "We have the numbers we have and this wasn't great news for the Fed but markets don't see it as a big threat to rate cuts later in the year," Kathy Jones, chief fixed income strategist at Charles Schwab,Yet, the hot print poses a problem for the Fed and muddies the water for its deliberations on the coming rate cuts.
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