April CPI came in pretty much on target: 4.9% versus 5.0 in March and 0.4% for both headline and core MoM.  Futures are up sharply thanks to the usual VIX collapse.

But, will it be enough to break the trend of reversing at 4166?

continued for members…

The most important chart to watch… Currencies are little changed, with DXY holding its TL of support.CL and RB are both off, unraveling the bump in yields and leaving the 10Y and 2Y in the same precarious position they’ve been in for a while, now.