CPI

Happy hump day, readers. I'm senior reporter Phil Rosen, writing to you from Manhattan. 

Today we're going over why some of the most astute voices on Wall Street are advising a shift from stocks to bonds — and what we learned yesterday helps explain why. 

Good morning, readers. I'm Phil Rosen, reporting from New York City. 

The Bureau of Labor Statistics publishes January's CPI data at 8:30 a.m. ET today. 

Economists expect inflation to have cooled to 6.2% year-over-year, down from 6.5% the prior month. 

Inflation continues to come off June's high of 9.1%, but it remains well above the Fed's 2% target. Policymakers have reiterated hawkishness on several occasions, yet markets are still acting like easing rates are a sure thing.