Everyone has seen the CPI data last night. This time, both the core CPI and the generalized CPI fell more than expected. This is a huge benefit to the market. I don’t remember the last time when both were lower than expected. Even US President Biden came out to comment that the United States has made more progress in reducing inflation. After the CPI data was released, Fed mouthpiece Nick Timiraos immediately commented that the inflation data showed that the Fed had completed this historic round of interest rate hikes. The market expected that the first interest rate cut tomorrow would occur in May, and the United States was expected to achieve a soft landing. Nick's comments are also consistent with the data forecasts given by CME. CME's latest forecasts that the probability of raising interest rates again in December, January and March next year has dropped below 5%, and the first interest rate cut next year has also been greatly advanced, 3 The probability of a monthly interest rate cut exceeds 30%, and the probability of a May interest rate cut is as high as 62.3%, and the rate cut will reach 100 basis points by the end of the year. However, although both Nick and CME predict that interest rates will be raised, those at the Federal Reserve may not relent in the short term and continue to talk about retaining the option of raising interest rates. Just listen to this kind of statement, and everything will be subject to CME’s forecasts. That’s fine, market trends basically follow CME’s predictions. Although it experienced a major correction last night, it still does not change the general trend. A correction is the best time to enter the market. Just hold on to the spot and avoid risks in the contract. Try not to go short blindly. You must have a good stop loss and don't fall into the bull market.