Bond yields are mostly flat in early trading after April consumer prices rose less-than-expected. Previous CPI data had been unusually cool, with the overall index down -0.1% in March and the core up a slight +0.1%. Prices were expected to climb more significantly in April in response to the “Liberation Day” tariff announcement, but the inevitable increase will likely present itself gradually over the coming months. Both the April headline and core CPI rates rose +0.2%, up from March, but below median forecasts of +0.3%.

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