US CPI for May 2019:
- Prior was +2.0% y/y
- Ex food and energy +2.0% vs +2.1% expected
- Prior ex food and energy +2.1%
M/M readings:
- CPI +0.1% vs +0.1% expected
- Prior CPI +0.3%
- Ex food and energy +0.1% vs +0.2% expected
- Prior ex food and energy +0.1%
Earnings:
- Avg hourly earnings +1.3% vs +1.2% prior
- Avg weekly earnings +1.0% vs +0.9%
This is another miss on US inflation and raises more questions about cutting rates. US 2-year yields dipped to 1.88% from 1.90% on the report and USD/JPY ticked lower.