I think [a tame CPI increase] would give the market a further sign of relief and could give the bond market a boost.

I think most market participants expect further increase. This is not going to be necessarily the end. I think they were hoping for a neutral stance coming out of it. But I think they having thought about it said, well, the Fed really is on top of this, the Fed is on top of inflation and there's a concern about slowing down the economy. And I think that helped it [the market] come back.

The dollar was reluctant to follow movements in the equity market, but when the selling became fierce, it started to respond.

This is just positioning within ranges but I still think the dollar is going higher.

The bond market took this report as a sign that core inflation may be bottoming and the Fed may still be in the tightening business later this year.

The bond market took this report as a sign that core inflation may be bottoming and the Fed may still be in the tightening business later this year,