June CPI data from the U.S. is out!! Are the good days finally here??? Core CPI year-over-year dropped to 2.6%, below the expected 2.8%; month-over-month is even 0%, the lowest since January 2021. Overall CPI year-over-year is 3.5%, month-over-month -0.4%, also significantly below expectations. But… this cooling is largely due to energy. Gasoline prices dropped 9.7% in a single month, and the energy index fell 5.7%. However, with recent tensions in the strait… this CPI report feels like a “short-term dovish, long-term to be verified” situation: The Fed’s rate hike pressure has clearly eased, rate cut expectations are heating up, and U.S. tech stocks and crypto assets are benefiting in the short term. But if oil prices rebound, inflation could rear its head again… Oh well, let’s just enjoy the moment while it lasts! It’s been tough for us stockholders for too long!