Equities marched higher in today’s session after a lighter = better CPI print earlier this morning. Headline inflation fell to 4.0% in May vs 4.1% expected and 4.9% prior due in large part to declining energy prices. Core CPI (ex-food and energy) rose 0.4% which was inline with expectations and prior. And while it doesn’t seem enough to change the expectations for a hike tomorrow, we know that the core number is still too high. Consensus has centered around a pause for tomorrow’s rate decis…
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