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  • Rates Spark: Don’t expect the relief to last long

    From think.ing.com

    The US CPI number was okay, as it was better than expected. But it was not a good report. US CPI inflation is still running at around 3%. It is, however, providing Treasuries with an excuse to do some downside testing for yields. We doubt it goes too far, as there is not the ammunition for it. But the bond bulls are overdue a period of positivity The market has now seen two better-than-expected month-on-month inflation numbers in a row now, on core PPI on Tuesday and now core CPI on Wednesday. Not that 0.2% is super low. But it it tolerable. If we were to keep getting those, we'd not be far off a 2.5% inflation ... (full story)

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