CPI and PPI data resulted in some volatility this week for Equities, but largely have locked in the outcome of next week's Fed meeting with a 25 bp cut, if the rate cut bets of the Swap market positioning is any guide. Whether or not we see a subsequent 50 bp the following meeting and Rate cuts follow the markets 200 bp into next June is open to argument, but for now, economic data has stabilized somewhat in the last month, and Treasury yields seem to be taking their cue more from labor mkt data than inflation. Equities are mildly higher today, thanks to 6 positive sectors out of 11 and breadth is around 2/1 positive. Yet, its the slightly negative move out of Technology (A -0.32% , MU -2.25%  LRCX 4.62% , STX -8.11%  big laggards) and Healthcare weakness (MRNA 0.09% , WAT -1.81% , TMO -1.69% , PFE 0.21% ) thats causing benchmark indices not to be higher.