So the rally is on for now, but the July 13 consumer price index will be crucial. If the index sees an above 8% gain, it would be the second consecutive such reading. The Fed could then become more aggressive in lifting rates, putting even more pressure on economic demand.
" If inflation hasn't peaked, then all bets are off ", " There could be some residual strength in inflation that's going to keep the Fed on edge, keep yields high. It's going to dictate the narrative in markets.
" BARRON'S "
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