Reaction: US CPI, Retail Sales: Mixed; 'Barely Hot Enough' To Keep Fed On Tightening Path – CIBC

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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