CPI came in much cooler than expected, core and supercore both soft — supercore printed -0.2%, the biggest monthly drop since COVID, led by declines in education, communication, and transportation services. Rate hike odds for July just repriced from 45% to 13%. That's a meaningful shift in the backdrop, and potentially the tailwind the beta names have been waiting on.
Aggregated and distilled by Two Sentence Traders. Not financial advice.