Key insights
- Stocks opened slightly higher after CPI met expectations, with headline inflation at 3.3% YoY and core at 2.6% YoY. The in-line print supported risk appetite. Traders are adopting a wait-and-see approach ahead of ceasefire talks. The market is considering the impact of geopolitical risks and rising yields on Q2 performance.
Stocks opened slightly higher after CPI came in right on expectations, giving markets their first read on consumer prices since the Iran conflict began.
Headline inflation ticked up to 3.3% YoY (from 2.4%), and core rose to 2.6% YoY, but the “in‑line” print helped keep risk appetite intact. Trrose, while crude eased and the dollar remained dollar stayed on track for a weekly loss.
With news flow slowing into the weekend, traders seem to be shifting into a wait‑and‑see stance ahead of Saturday’s ceasefire talks in Pakistan.
Curious how others are positioning:
- Does an in‑line CPI print change anything for near‑term risk exposure? * Are you treating the geopolitical backdrop as noise or a real macro input? * How are you thinking about yields grinding higher into Q2?