Consolidation Time, Or?

1:41 p.m. ET This morning’s CPI report was pretty much on the screws of expectations, except airfares and rental inflation is stubbornly rising. The stock market barely reacted. Yields reacted with a move lower, pretty close to retracing yesterday’s move higher, but even that has has faded. The Fed-sensitive 2-yr is still 5 bp lower,…