Forex - US Bond Flows: Touch of relief, pre-data hedging pulled back; Trump still berating Fed

 12:39 (GMT) 11 Oct

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The 0.1% CPI figures, including a fairly low 0.1% on core (0.11%) offers the market some relief and allows for the late defensive selling into the numbers to be wound back, US10s taking 3bp off the late backup. On the flip side though, the stock market also quite likes the numbers, future losses reversed, so that will check bonds' ambitions. Consolidation off the top remains intact for now. Meanwhile, Trump is again quoted saying the Fed is being too aggressive, making a big mistake, getting 'too cute'. The market tends to ignore these remarks after a little flinch, though clearly Trump isn't happy about equities coming off their bests.

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