CIBC Research comments on today’s data releases of US CPI and retail sales reports.
On the CPI data, CIBC notes that it’s not responding yet to a tightening in labor markets, but ‘might still be (barely) hot enough’ to keep the Fed on a tightening path’.
On the retail sales report, CIBC notes that it rebounded in April, and although the results were a bit less than expected, that was roughly offset by upward revisions to March figures.
“All told, a mixed set of data, but the tame inflation reading will be supportive for bonds today,” CIBC argues.
Source: CIBC Economics – CIBC Capital Markets
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