Bond yields jump as US CPI surprises; gains “broad-based”

12 May 2021

 

Summary: US CPI jumps in April; well above expectations; “core” rate triple expected figure; “broad-based”; non-food/energy commodities, used car/truck prices main drivers; probably reflection of pent-up demand, production bottlenecks; New York Fed UIG annual rate also up noticeably.   The annual rate of US inflation as measured by changes in the consumer price index (CPI) halved from nearly 3% in the period from July 2018 to February 2019. It then...

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