The market is getting a bid as core CPI rise only 0.1%. It's not like the Fed is going to react much to one benign reading after months of strength in the core. Prices jumped to 1.2840 before settling back to the 1.2825 area. At the margin, this gives takes some of the sting out of the Fed's hawkish talk, but it will take more than one number to materially shift their view.
Next up for the market is the September TIC data, another figure the market tends to over-react to. Options-related offers remain eyed on rallies toward 1.2850, dealers report.
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