Summary: US CPI up 0.4% in October, less than expected; “core” rate up 0.3%; “some optimism” inflationary pulse starting to wane; “some moderation in services inflation”; Treasury yields fall significantly; rate-rise expectations soften; non-energy services again main driver, adds 0.29 ppts. 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....