Woofun AI reports that the U.S. will release June CPI data at 8:30 p.m. Beijing time tonight, with consensus expecting a month-over-month decline of 0.1% to 0.2% and year-over-year growth falling to 3.8%. Core CPI is projected to rise 0.2% monthly, with the annual rate dropping to approximately 2.8%.

Wall Street institutions warn that energy price declines may mask persistent inflationary pressures from housing, insurance, travel, and tariffs. Consequently, interest rate options indicate the implied probability of a 25 basis point Fed hike in July has climbed from under 10% to roughly 50%, while the 2-year Treasury yield holds above 4.25%.