Key Events This Week: "The Most Closely Watched Data Release So Far This Year"

Thursday’s US CPI release.

BofA's economists are even more aggressive, and expects an even stronger CPI report in May with core jumping 0.5% mom and headline up 0.4% mom. Coupled with positive base effects, % yoy core will jump to 3.5% from 3% and headline to 4.7% from 4.2%.