State Street said.
A continued disinflationary trend will pave the way for the Federal Reserve to cut interest rates later this year.
Michael Metcalfe, Head of Macro Strategy at State Street Global Advisors, commented on U.S. CPI data, noting that the key takeaway for interest rate markets and equity markets is that the disinflationary trend remains intact.
This further validates the view that we have passed the peak of inflation concerns. It paints a picture of continuously improving inflation prospects, paving the way for rate cuts later this year.