May CPI just printed exactly in line with expectations:

- CPI: 4.2% vs 4.2% expected
- Core CPI: 2.9% vs 2.9% expected
So where tf is the inflation crisis?
This report captured the energy supply shock tied to Middle East tensions, yet both headline and core inflation landed precisely where economists expected...
The market spent weeks fearing a resurgence in inflation. Instead, today's data reinforces the view that higher energy prices were a temporary relative price shock.
With the Iran situation easing and oil already retracing from its highs back below $90, the inflation scare looks increasingly weaker.
For risk assets...stocks/crypto an in-line CPI print removes a major source of uncertainty and keeps the disinflation trend intact.
Now let's send the market to another ATH 🚀