What now after the US CPI and Fed showdown yesterday? ...Middle East

And it sure did not disappoint. It was very much like a poker game, with the flop (CPI report) being presented first. Then, we moved on to the turn (dot plots) and finally the river (Powell's presser). Overall, it ended with a push and pull by the time we wrapped things up yesterday. It was a case of CPI giveth, and Powell taketh away.Looking at the US CPI report first, there were slight misses on estimates across the board. But what did the details say?One of the standouts in the data yesterday was that supercore inflation turned negative for the first time since September 2021.That's a notable development and it owes much to the first decline in auto insurance prices, also since 2021. That

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