Weekly Commentary: Battle Lines Are Drawn
July 16, 2023 at 05:44 AM EDT
The gains in headline and “core” CPI came in a tick below estimates at 0.2%. CPI was reported at 3.1% (estimate 3.0%), with “core” at 4.8% (vs. 5.0%). It was like Déjà vu all over again. Two-year Treasury yields sank as much as 16 bps to 4.71%.
