Daily Note | July 11, 2024 | CPI Comes In Cool. Muni CEFs!

The Consumer Price Index ("CPI") monthly report for June came out showing the slowest month-over-month increase since May 2020. Core CPI rose +0.06%, lowering the 12-month trailing rate to 3.27%, the lowest in 3 years. The 6-month annualized rate is down to +3.3%, the lowest since last October. The 3-month number is down to just 1.1%.

We saw a large slow…