NE NEUTRAL Neutral Protocol Loading... : Bullish and Bearish Analyst Opinions

1. THE FACT: Core CPI is at the lowest level since 2021. 2. THE BRIDGE: This further supports the disinflationary narrative, potentially easing concerns about persistent inflation and creating a more favorable environment for risk assets. 3. THE VERDICT: Core CPI is at a multi-year low, suggesting inflation is well under control.

1. THE FACT: Core CPI in Nov came in lower than all 62 forecasters in Bloomberg’s survey predicted. 2. THE BRIDGE: This reinforces the idea of disinflationary pressures being stronger than anticipated, which is generally favorable for equity markets as it could lead to a more dovish stance from central banks. 3. THE VERDICT: Core CPI surprised significantly to the downside, indicating stronger disinflationary trends.

1. THE FACT: CPI YoY: 2.7% vs 3.1% exp. CPI Core YoY: 2.6% vs 3.0% exp. 2. THE BRIDGE: Lower-than-expected inflation data (especially core CPI) suggests that previous concerns about "massive inflation shock" due to tariffs were unfounded. This could be bullish for equities as it might reduce pressure on the Fed for tighter monetary policy. 3. THE VERDICT: Inflation is coming in lower than expected, which is a positive surprise and could support risk assets.