In my view, it is going to be a quite a task for investors to pick up on any fear from the US CPI report later. The estimate shows that we should get a softer headline reading, although core annual inflation is estimated to remain steady as in May.If it plays out that way and the details are somewhat similar to last month, it will be easy for investors to keep arguing that the disinflation process is still playing out; albeit very gradually.If it doesn't, I reckon investors might react negatively at first but will then brush this aside as just being a bump in the road. That seems to be the go to story that central banks are trying to sell these days. And as long as it fits with the more bull
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