They're expected to be down 10 is down 15.6.

Down 15.6 is the weakest reads since January.

Now let's go to CPI, shall we?

These are the April reads, of course.

Headline up 3 tens, a little cooler than the rearview

mirror which was up 4 tents I haven't seen revisions they were late yesterday and

coming if we look at the X food and energy also up 3 tenths and last month that was also up 4

10s so that definitely cooling off as expected on that now let's look at the year over year numbers probably the most important 3.4 is the year over year headline and that is

one-tenth cooler than the rearview mirror equal to expectations and that is the lowest year over year since we're at

well 3.2 in February. See last month was the pop and if we look at

CPI X food and Energy year over year,

this is 3.6.

That is definitely cooler than the 3.8 we had last time.

And the 3.8 last time, and along with the 3.6 this time, is now the lowest level of year

over year core inflation since April of 21.

So these numbers are close to expectations in every way and actually

sequentially a bit better than last month which spike. You see yields moving

down. Now we're not done with the data yet. I like to look at

the CPI index because I think the CPI index is very important to look at.

3.54 is the non-seasonally adjusted and guess what? That's a new all-time high and if we look at the

core at 317.62 that's also a new all-time high.

So here's what we really see.

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