Even as U.S. inflation missed forecasts again and Treasury debt yields reared up in reaction, AI-fueled Wall St stock indexes powered on regardless to record closing highs - either ignoring the readout, or perhaps even thriving on it. Although annual "core" CPI inflation fell again to 3.8% - its lowest in almost three years - it was a tenth of a percentage point above forecast, the headline inflation rate ticked up surprisingly to 3.2% and monthly readings were sparky. But interest rate futures shaved expected Fed easing expectations for the year nonetheless and both two and 10-year Treasury yields pushed higher - the latter up by more than 5 basis points to 4.15%, where it sat early on Wednesday.
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