Bank of Montreal: It's hard to imagine the CPI report prompting the Federal Reserve to cut interest rates before September

Bank of Montreal Capital Markets' Head of U.S. Rates Strategy, Ian Lyngen, said that given the current tariff environment, it is hard to imagine this CPI report prompting the Federal Reserve to cut interest rates before September. The lackluster performance of U.S. Treasuries after the report was released may also illustrate this point. Under normal circumstances, one might think this report would open up a discussion about a Fed rate cut. Unfortunately, the new round of tariffs to be implemented on August 1 will keep the Fed in a holding pattern for the time being. Next, there will be multiple Fed officials speaking today, and investors will be closely watching for any near-term policy hints—even if the likelihood of such guidance appearing at this time is low. (Golden Ten) [Odaily Planet Daily News]