May 2021 - Consumer Price Index Surging- Tactical Fund Manager's Comments

9 June 2021

Hasan Aslan


Recent inflation data showed the strongest year-on-year reading since 2008, as illustrated by the US Consumer Price Index which increased by 5% in May from a year earlier. Most of this sharp move is due to the base effect and CPI is not the preferred inflation measure for the Fed. Most importantly, investors’ reaction suggests that this doesn’t substantially alter the accommodative monetary policy in place. The US 10-year Treasury yield did not really react to these readings for now.


Source: Bloomberg, RAM AI, as of 31.05.2021


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