Next week's US CPI risks being a shock, core expected at its highest since January ...Middle East

TD Securities are with the consensus, forecating m/m core to be up 0.3%, this highest since 0.4% in January:

"we look for goods prices to gather steam in June, reflecting some tariff passthrough""we don't expect the services segment to help offset that strength"

see headline at 2.7% y/y

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if it shows inflation reaccelerating broadly it poses a risk to the bond market, i.e higher yields for 'bad' reasonsa key implication that the market would likely draw is that there could be fewer Fed rate cuts than currently priced that could then leak into into equity markets

mix in the hefty tariffs being proposed and it could get ugly, until TACO saves the day of course.

This article was written by Eamonn Sheridan at www.forexlive.com.

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