US June core CPI YoY 2.9% vs 3.0% estimate.

• Prior month CPI MoM 0.1%. Core 0.1%
• Prior month CPI YoY 2.4%. Core 2.8%
• CPI MoM 0.3% vs 0.3% estimate
• CPI Core MoM 0.2% vs 0.3% estimate
• CPI YoY 2,7% vs 2.4% last month
• CPI Core YoY 2.9% vs 2.8% last month

Unrounded:

• CPI unrounded: 0.287% vs 0.081% last month.
• Core unrounded 0.228% vs +0.130% last month

Details

• Headline CPI (M/M): +0.2% in June

• Core CPI (ex-food & energy, M/M): +0.2% in June (vs. +0.1% in May)

  • Increased: Household furnishings, medical care, recreation, apparel, personal care

  • Decreased: Used cars & trucks, new vehicles, airline fares

• Headline CPI (Y/Y): +2.7% (up from +2.4% in May)

• Core CPI (Y/Y): +2.9%

• Energy (Y/Y): -0.8%

• Food (Y/Y): +3.0%

The headline CPI rose by 0.3% with the unrounded on the low side of the 0.3% at 0.287%. The core was lower at 0.2%, but the unrounded was on the higher end of the 0.2% but only 0.228%.

Nevertheless, the data is good given the concerns from tariffs and will likely keep the pressure on Fed chair Powell.

The market is keeping the positive gains in the broader indices with the NASDAQ index up 143 points. The S&P index is implying a gain of 26.44 points. The Dow is marginally lower

The USD initially moved lower but is moving back to the upside.

US yields are a little lower but marginally changed:

• 2-year yield 3.914%, +1.7 basis points
• 5-year yield 3.988%, +0.6 basis points
• 10 year yield 4.427%, unchanged
• 30 year yield 4.965%, -0.7 basis points