#CPI数据将公布#

Is inflation back or a flash in the pan? Deep signals that the CPI data will reveal With the latest CPI data just around the line, the market is once again focusing on the direction of inflation. The recent rise in energy and food prices has raised expectations for a rebound in CPI year-on-year growth. If the data is higher than expected, it will strengthen the market logic that "it is difficult for the Fed to cut interest rates this year", promote the further strengthening of the dollar and US Treasury yields, and global asset prices may face a new round of adjustment pressure. Conversely, a modest or even retreating data could inject short-term optimism into equities and drive a rebound in the technology and growth sectors. The key is not only in the numbers themselves, but also in the performance of core CPI and services inflation. If structural inflation remains high, it will strengthen the expectation that "high interest rates will last longer" and change the direction of capital flow and asset allocation structure. Investors should pay close attention to the breakdown details behind the data to capture new developments in macro policy and asset pricing.