There is enough and more going on in terms of global markets. The US markets initially surged on the miss but then into close, the S&P500 lost, the NASDAQ was down, basically the close was nothing great but a third of a percent lower from the highs.

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US yields have been lower, 5-year down 10 basis points (bps), the 10-year down 6 bps stands at about 2.72 percent, the dollar index is pushing beyond the 100 and oil is back on the oil, at about $105 per barrel.

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The US core CPI missed expectations and the market did what it did. So the core number was the first miss since August of 2021 and it spurred a lot of people to say that maybe we have seen the peak of inflation and this is it.

Watch the accompanying video of CNBC-TV18’s Prashant Nair for more details.

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