Collin Martin says a 2.5% increase on the year-over-year core CPI data was good, but under the hood he says there was some not so nice things. He describes the short-term picture differentiating itself from the 12-month period. Collin adds that the bond market "clearly likes" the report, but believes the Fed will remain on hold for "the next few meetings." ‪@CharlesSchwab‬'s Michael Townsend agrees, saying the labor market and inflation data should have the Fed on pause until the summer. Mike adds that any changes from the Fed are unlikely until a new Fed Chair is in place.

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