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Post-CPI React:

US TSYS
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Treasury futures extend gains after in-lin to lower than expected CPI data:

  • CPI MoM (0.3% vs. 0.4% est; 0.4% prior), YoY (3.4% vs. 3.4% est; 3.5% prior),
  • CPI Ex Food and Energy MoM (0.3% vs. 0.3% est; 0.4% prio), YoY (3.6% vs. 3.6% est; 3.8% prior)
  • Retail Sales drops with down revisions to priors:
  • Retail Sales Advance MoM (0.0% vs. 0.4% est)
  • Retail Sales Ex Auto MoM (0.2% vs. 0.2% est)
  • Retail Sales Ex Auto and Gas (-0.1% vs. 0.2% est)
  • Retail Sales Control Group (-0.3% vs. 0.1% est)
  • Jun'24 10Y breaches resistance of 109-22.5 (38.2% retracement of the Feb 1 - Apr 25 bear leg) to 109-26.5 high (+23.5), next resistance at 110-06 (High Apr 4)
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Treasury futures extend gains after in-lin to lower than expected CPI data:

  • CPI MoM (0.3% vs. 0.4% est; 0.4% prior), YoY (3.4% vs. 3.4% est; 3.5% prior),
  • CPI Ex Food and Energy MoM (0.3% vs. 0.3% est; 0.4% prio), YoY (3.6% vs. 3.6% est; 3.8% prior)
  • Retail Sales drops with down revisions to priors:
  • Retail Sales Advance MoM (0.0% vs. 0.4% est)
  • Retail Sales Ex Auto MoM (0.2% vs. 0.2% est)
  • Retail Sales Ex Auto and Gas (-0.1% vs. 0.2% est)
  • Retail Sales Control Group (-0.3% vs. 0.1% est)
  • Jun'24 10Y breaches resistance of 109-22.5 (38.2% retracement of the Feb 1 - Apr 25 bear leg) to 109-26.5 high (+23.5), next resistance at 110-06 (High Apr 4)