Dollar Dives, Yields Plunge As CPI, Retail Sales Miss “Bigly”

As we wrote earlier this morning, the Fed will almost surely hike this afternoon, but traders will be watching CPI and retail sales first and indeed, those prints may end up dictating the direction of the dollar and yields more so than the Fed depending on how anti-climactic Yellen turns out to be. "Investors treated surprisingly soft inflation results in March with skepticism, however, a cooler-than-expected outcome for April, as well, lent credibility to the dovish narrative that achieving t