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Equities, Dollar Lower on Net After Inline CPI

DATA REACT
  • Asset prices undergo considerable volatility after the in-line CPI release, with equities, currencies and fixed income markets seeing a sharp spike in volumes.
  • Equities were bid headed into the release, with the e-mini S&P hitting a new daily high at 4019.75, before backtracking to settle around 25 points below pre-data levels.
  • Across currency markets, USD/JPY saw a brief spike higher before selling resumed to push the pair to new weekly lows at 129.66 to test next support at 129.52 - the Jan 3 and YTD low.
  • For the US 10y yield, immediate volatility in rates markets put yields down toward 3.4747% and as high as 3.5813% - a move which was quickly reversed and markets are back to a holding pattern.
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