External broker reports(aggregated public sources), Unicredit

Unicredit Research

With nearly 30 analysts, UniCredit Research provides high-quality macroeconomic and financial market analysis to support clients in the development of investment plans, strategic and tactical asset allocation of financial investments, security selection and risk management. Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

External broker reports(aggregated public sources)

Unicredit

Macroeconomics

<ul><li>The US CPI report for April brought some relief for the Fed. Headline consumer inflation decelerated to 0.3% mom from 0.4% mom, with the yoy rate coming down by 0.1pp to 3.4%.</li><li>Looking at the non-core components, the food index was unchanged in April after increasing 0.1% mom in the previous month.</li><li>Interestingly, prices for limited-service meals (i.e. fast food) were up 0.4% mom, a slightly faster pace than the 0.3% mom rise in March. </li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

The US CPI report for April brought some relief for the Fed. Headline consumer inflation decelerated to 0.3% mom from 0.4% mom, with the yoy rate coming down by 0.1pp to 3.4%.Looking at the non-core components, the food index was unchanged in April after increasing 0.1% mom in the previous month.Interestingly, prices for limited-service meals (i.e. fast food) were up 0.4% mom, a slightly faster pace than the 0.3% mom rise in March. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Data Comment - US: April CPI Report Brings Relief for the Fed, but Not yet Enough Confidence