Mid-session market 05/10: Mixed reactions after CPI report below 5% for the first time in 2 years

Overall CPI comes in below 5% this morning but core CPI block and components still show many bad signs

• April inflation index at +4.9% YoY, lower than expected 5% while core CPI at +5.5%, in line with forecast:

• Month-over-month, CPI remains high at +0.4% in line with forecast, up significantly from previous month's +0.1% while core CPI unchanged at +0.4%