DC Lite #421

"This was over an 8 standard deviation surprise, the largest one since the January 2021 PPI was released"

Daily Chartbook
August 14, 2025

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1. PPI (I). Headline and core PPI each surged by 0.9% MoM in July, the most since H1 2022. Services prices rose 1.1% (driven by margins) while goods prices increased 0.7% (led by fresh/dry vegetables).

Augur Infinity

2. PPI (II). "To further contextualize: This was over an 8 standard deviation surprise, the largest one since the January 2021 PPI was released."

@marioismailanji

3. Implied crypto allocations. "A mass adoption/speculation phase appears to be taking place as more and more investors make allocations into Bitcoin/crypto."

Callum Thomas - Topdown Charts

4. Mag 7 valuation vs. net income. Among the Mag 7, "the only top 10 most expensive stock in the S&P today is Tesla … But on the other hand, look at net income … I think these stocks still have room for multiple expansion actually."

Tom Lee - Fundstrat

5. Misery Index vs. equities. "This is not a trading model and there is no suggestion of a crash, but this relationship between misery and equity market cheap/rich identifies trends – and the coming trend is a cheaper equity market relative to the economy, relative to 10Y yields."

Steven Blitz - TS Lombard

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