Markets Dodge Bullet With UK Inflation Report

Earlier this week, "stronger-than-expected wage growth bolster[ed] BoE caution." That's an actual headline from a mainstream financial media outlet. Fast forward 24 hours and "weaker-than-expected inflation provide[d] relief for [the] BoE." That's another actual headline, and it was situated right next to the first one on Wednesday. The juxtaposition was amusing and speaks to the 24-hour news cycle and the ebb and flow of a policy narrative which moves much faster in the media and among STIR tr