by Tyler Durden Wednesday, May 12, 2021 - 10:01 AM The biggest MoM jump in core consumer prices since 1981 and record-breaking spikes in energy and used-car prices - all much hotter than expected - has sparked some turmoil across markets as traders attempt to discern if The Fed is right in its " guessing game" that this is all "transitory". Here’s what market participants are saying to Bloomberg: Seema Shah, chief strategist at Principal Global Investors: “What have we really learned today that we didn’t already know? Markets were already expecting a rise in inflation -- the big question is how sticky that inflation is. That has not been answered today, nor will it be answered for several months. Nonetheless, risk markets will continue to be whipsawed by inflationary concerns over the coming months and investors would be wise to introduce some inflation protection into their portfolios.”