CPI Week. Given the recent move in US Treasury rates, we enter tomorrow’s CPI number somewhat vulnerable.

With the Fed now in their blackout period and the employment report behind us, all eyes are on the inflation data. Chair Powell last week reiterated the Fed remaining on course to lower rates in 2024 with the market focused on the June meeting. But more “good” data is necessary given the recent hiccup in the inflation readings. In general, inflation versus employment is more balanced. And certainly, a continued move higher in the unemployment rate having the ability for the Fed to move sooner rather than later.

A big thank you to Bloomberg Intelligence, Ira Jersey, and Will Hoffman, for including us on Friday on their FICC Macro Matters podcast.

Get your updates each week with Gregory Faranello, CFA–Head of U.S. Rates at AmeriVet Securities.