News Snapshot:
Stocks got clobbered and bond yields soared Tuesday after the consumer price index came in hotter than forecast. However, don't get pulled into the panic and sell on the news. It's true inflation remains stubbornly high: the CPI notched a year-over-year rise of 8.3% rise in August, ahead of the 8.1% expected by the Street. The bond market reacted, with the 10-year Treasury yield reaching 3.44%, its highest level since June 16 — around the time stocks went on their summer rally. The real action was at the shorter end of the curve: The 3-month yield hit a level not...
