Investor sentiment is riding high in the wake of the latest US CPI report, with a notable surge in the DOW futures, climbing over 300 points, and a marked drop in 10-year yield, plunging from above 4.6% to below 4.5%. The report presented a picture of easing inflation, with both headline and core inflation rates falling short of market expectations. Significantly, core CPI has reached its lowest point in over two years. The weaker monthly price rise also bolsters the notion that disinflation is underway. This development could potentially revive Fed Chair Jerome Powell's "confidence" that the existing monetary policy is sufficiently restrictive to steer inflation back towards target.