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The stock and bond markets didn't get through the CPI unscathed, but it could have been worse as we did see the indices close off their lows. The charts are showing some cracks with those losses so this morning's PPI becomes that much more important. Perhaps it will reverse the decline but the hot CPI does poses a problem for the market. The big three indices lost near 1% on the day and small caps, which are more interest rate sensitive, took a near 2% haircut. Bonds fell sharply as yields moved ...