On May 13, PANews reported that the analysis agency Tradingkey indicated that the market consensus predicts a year-on-year increase of 2.4% in the overall CPI for April, unchanged from March. However, among the four main components of the CPI, only food shows signs of rising, but it only accounts for 13.7% of the total CPI. Therefore, we believe that inflation in April will be lower than the market consensus. This may increase the likelihood of the Federal Reserve restarting the rate cut cycle in June. As a result, we expect the US stock market to rise after the data is released, while the dollar index and US Treasury yields will fall.
