by Liz Capo McCormick and Ye Xie
Yahoo! Finance
The release of the April consumer-price index on Wednesday is poised to provide the biggest test yet of the rally that started this month when Federal Reserve Chair Jerome Powell swatted away worries that the central bank may raise interest rates again. It gained steam after the Labor Department reported a slowdown in job growth, pulling yields down sharply from last month’s peaks.
The advance has increased the stakes in the upcoming inflation data — which could either extend it or doom it as another ill-fated turnaround. Bank of America Corp. strategists said the market will be in a “holding pattern” until then.