Inflation Closing In on Fed’s Target: Analyst

U.S. consumer prices saw their smallest increase on a yearly basis in more than two years in June. The headline CPI reported on Wednesday showed that inflation is subsiding.

The considerable slowdown in underlying inflation sparked a rally in the stock and bond markets.

Some investors are convinced the U.S. central bank’s fastest monetary policy tightening cycle since the 1980s is drawing to a close.