Traders have ratcheted up their forecasts for U.S. consumer price inflation over the next few months, and now see annual headline figures coming in at 7% or higher into early next year.So-called “fixings,” which trade as derivatives on the likelihood of where future consumer price index levels will land, are at levels that imply headline year-over-year CPI prints of 7% in November and 7.3% each month from December through February, said Tim Magnusson, partner and senior portfolio manager at Garda Capital Partners LP in Minneapolis. Those would be the highest levels in almost 40 years.With inflation already running at…
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