WEDNESDAY’S CPI COULD DELIVER THE NEXT DOVISH CATALYST HSBC says Wednesday’s U.S. inflation report could push Fed rate hikes further out of market pricing. The bank expects another benign inflation reading after June’s softer-than-expected print. If confirmed, HSBC sees Treasury yields falling and the curve bull-steepening as rate-hike bets fade. That could create a “Goldilocks” backdrop, supporting broad gains across risk assets.(*Walter Bloomberg)