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Market participants have taken a “disinflation ecstasy pill”, bidding up long-duration equities and fixed income in the past two sessions after the latest June US CPI data came in below expectations with the headline print dipped to 3% year-on-year, its slowest rate of growth seen in two years. The core consumer inflation rate (excluding food & energy) also slowed to 4.8% year-on-year from 5.3% recorded in May and dipped below the current Fed Funds rate of 5% to 5.25%.
Invesco DB Commodity Index Tracking Fund (NYSEARCA:DBC – Get Free Report) shares rose 0.7% on Wednesday . The stock traded as high as $23.59 and last traded at $23.47. Approximately 599,581 shares were traded during trading, a decline of 53% from the average daily volume of 1,272,496 shares. The stock had previously closed at $23.30. […]