The immediate market reaction was negative, with US indices retreating sharply and the 10-year bond yields rising to 3.04%. But the truth is that the CPI figure shows signs of decline for the first time, and although not as much as expected, it may be the first symptom that inflation is reaching a peak. However, it has not worsened in April. These types of immediate reactions after publishing a relevant figure, like yesterday's, are quite common. The market responds negatively with orders guided by algorithms to a figure less positive than expected without a deeper analysis of the true meaning of the data. It is also usual that after a more detailed analysis, the market acts in the opposite direction, as it happened yesterday in the case of stock indices; this happened only for a short period.