The CPI data is very beautiful.

First, this data cannot be said to be without water. Based on my previous analysis of the impact of the European interest rate cut, the US import price to Europe will fall in the future, and the US CPI will have a downward trend. So the statistical agency can be bolder. (Of course, it will not be too different. It can only be a little manual in statistics, and it will not be made up out of thin air)

Secondly, based on the CPI data, the probability of the late night dove chart increases, the probability of hawking decreases, and the probability of being very hawkish is even smaller.

If it is dovish, it will rebound

If it is hawkish, it should also rebound, after all, it fell in advance

Unless it is very hawkish, but this probability is obviously smaller.

Finally, don't be too optimistic, it's still the same point of view:

Emotions determine the bottom, and funds determine the top.

Now the mood has improved, and the bottom will temporarily rise, but the top, affected by the high interest rate and balance sheet shrinking environment, don't have too many illusions about the top.