Headline CPI inflation decelerated in June to 2.7% year-on-year (y/y), right on consensus expectations and below last month’s 2.9% y/y print. The deceleration was led by gasoline prices, which dropped 3.1% month-on-month (m/m), compared to the +5.6% m/m gain last month. This follows OPEC+’s announcement of the phase out of prior production cuts. Lower prices […]
Direction was mixed yesterday, as Tuesday’s hotter-than-expected US CPI print gave cold feet to investors regarding the Federal Reserve’s (Fed) ability to cut interest rates as soon as in June. The S&P 500 and Nasdaq consolidated near record, energy stocks helped tempering losses in the S&P500 as technology stocks traded down. The dollar index rebounded […]
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