Citi discusses the current market conditions and sees range bound trading in play in the near-term.
"Its likely to be leisurely end to a range-bound week, with limited conviction heading into the weekend and next week's events. US 10y yields trade at 1.44% after yesterday's CPI print," Citi notes.
"The Fed is likely to dismiss the latest inflation print as transitory, though we think some of the details suggest inflationary pressures will persist. The ECB was not much of an event for EUR, which we think will be driven by broader USD dynamics," Citi adds.