(Bloomberg) — Wall Street got a reality check on Tuesday, with hotter-than-estimated inflation data triggering a slide in both stocks and bonds.
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Equities pushed away from their all-time highs as the consumer price index topped estimates across the board. Treasuries sold off, with two-year yields hitting the highest since before the Fed’s December “pivot.” Swap traders ratcheted down their expectations for a central bank cut before July. The stock market’s…
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