Odaily Planet Daily News: U.S. CPI data showed that U.S. inflation unexpectedly slowed in May. The year-on-year increase in the U.S. CPI in May fell from 3.4% to 3.3%. Traders re-priced the Fed's probability of a rate cut in November to 100%, and expected two 25 basis point rate cuts this year. After the data was released, U.S. Treasuries rose, and the two-year yield fell 13 basis points to 4.7%. The repricing of swap contracts strengthened expectations of a rate cut by the Federal Reserve. Traders also raised the probability of a rate cut in September to 72%. Daniel Mulholland, senior managing director of Crews & Associates, said, "This inflation report shows that the data is very weak. The Fed is now fully likely to cut interest rates in September." (Jinshi)