A.M. Update – CPI Cooler Than Expected

S&P futures are up +0.55% after CPI came in cooler than expected. Treasury yields moved sharply lower in response. The 10-yr yield, at 4.42% before the data, sits at 4.35% now. The 2-yr yield, at 4.79% before the data, sits at 4.73%. Total CPI was up 0.3% in April (consensus 0.4%) following a 0.4% increase…