Tonight's CPI Analysis 1. CPI higher than expected, interest rate expectations tighten, risk assets under pressure, short-term pullback to the $116–118K range

2. CPI in line with expectations or slightly lower, market continues to favor interest rate pullback, risk appetite increases, likely to break through $120K, challenging $122K. Strong capital flow continues to participate, providing support and suppressing the risk of significant declines, stabilizing or gradually rising.