USA CPI Beat (Patreon)

Consumer prices climbed at a 3% annual pace in June, a significant slowdown from May's 4% increase. Still, inflation remains above the Fed's 2% target

Headline: +3.0% vs +3.1% expected

Core: +4.8% vs +5.1% expected

Nice downside miss in core, should make for much lower odds of another Fed hike this month.

Two year treasury continues rejection of the 5% mark