May’s CPI cools more than expected, with core CPI rising 3.4% Y/Y

• May Consumer Price Index: 0.0% vs. +0.1% expected and +0.3% in April.
• +3.3% Y/Y vs. +3.4% expected and +3.4% prior.
• Core CPI: +0.2% vs. +0.3% expected and +0.3% prior.
• +3.4% Y/Y vs. +3.5% expected and +3.6% in April.

These are better than expected numbers and Futures are up 0.7% and the 10 year treasury is down 14 basis points to 4.3%