BofA warns markets underpricing risk of inflation's return

Investors appear sanguine in the hours leading up to the print, with options on the S&P 500 index implying a move of 45 basis points. That's lower than the average realised move of 71 basis points over the past year, according to Bloomberg calculations. December S&P 500 futures were 0.1% higher as of 7:30 a.m. New York time.