BBH's Global Market Strategist, Win Thin, said it's too early to draw conclusions, but the price action so far suggests that the market expected CPI data to come in below expectations after yesterday's US PPI data release. Therefore, today's outcome is disappointing for a market positioned dovishly.
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Jinshi's selected analysis: the sluggishness of PPI data has made the CPI data slightly disappointing
BBH's Global Market Strategist, Win Thin, said it's too early to draw conclusions, but the price action so far suggests that the market expected CPI data to come in below expectations after yesterday's US PPI data release. Therefore, today's outcome is disappointing for a market positioned dovishly.