A.M. Update

S&P 500 futures are trading close to unchanged. CPI cme in cooler than expected (except for a jump in super-core): CPI 0.2% MoM, Exp. 0.3%; CPI 2.4% YoY, Exp. 2.5% CPI Core 0.3% MoM, Exp. 0.3%; CPI Core 2.5% YoY, Exp. 2.5% The 2-yr yield is down 3 basis points to 3.43% as rate cut…