With the sharp move higher in interest rates, markets have been on the lookout for inflation creeping up. So Wednesday’s December CPI will be important even if it still shows a muted rise in the consumer price index. According to Dow Jones, economists expect an increase of 0.4% month over month, and 1.3% year- over- year. Core CPI, less food and energy, is expected to be up 0.1% or 1.6% year-over-year, versus 0.2% and 1.6% in November. The rapid move higher in bond yields since the start of the year has been accompanied by rising inflation expectations. The 10-year breakeven, a bond market instrument for inflation ... (full story)