US CPI figures printed softer than expected triggering a UST curve bull flattening. After a positive start, US equities ended the day lower with declines in all sectors led by financials and energy. The USD fell on the CPI print, but then reversed course with weakness in commodity prices hurting pro-growth currencies. After a short bounce, AUD and NZD ended the day lower, now at 0.7320 and 0.7098. The market was looking for an ease in US CPI readings and in the end the figures delivered a bit more than expected . The August headline CPI rose 0.3%, a tenth below the 0.4% pencilled by consensus while the core reading ... (full story)