ES, TLT React Positively to CPI Report

Bottom Line: The markets LIKED what they saw in this AM's CPI Report, but now we turn our attention to the Fed later today, which will determine if this AM's post-CPI gains hold, extend, or reverse...

Below are the updated charts I posted earlier this AM that show the positive reaction to the CPI report...

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According to Barrons:

Analyzing the Data

Here's a recap of the numbers:

Headline CPI increased by 3.3% year over year in May vs. 3.4% expected by economists, according to FactSet.

The index was flat month over month vs. 0.1% growth expected.

Core CPI increased by 3.4% year over year vs. 3.5% expected in May.

On a monthly basis, that index rose by 0.2% vs. 0.3% expected.

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