May 14, Wednesday

High-Level Voices: 
U.S. April unadjusted CP| rose 2.3% year-over-year, below expectations for the third consecutive month, marking the lowest level since February 2021; core CPI remained steady at 2.8%, in line with market expectations.

Overall Sentiment: 
Yesterday, both A-shares and H-shares opened high but closed low. The market verbally celebrated trade negotiation successes, but actions spoke louder. 
U.S. April CP| growth was below expectations, nearing the Fed's 2% target. Powell's persistence in not cutting rates only increases his pressure.
Additionally, it's clear that 150% tariffs between the U.S. and China have not immediately impacted U.S. inflation data.