A.M. Update – CPI Better-Than-Feared

Core CPI for March came in better than feared.  Total CPI rose 1.2% m/m in March, as expected, while core CPI, which excludes food and energy, rose 0.3% (consensus +0.5%). On a year-over-year basis, total CPI was up 8.5% (versus 7.9% in February) and core CPI was up 6.5% (versus 6.4% February). S&P futures jumped…