Thought Of The Week U.S Inflation Report, G7 Meeting Rising inflationary pressures have curbed equities advance in the past weeks as markets debated over whether this is transitory, as economists and central bankers say, or something more lasting. This week, markets seem to trust the former despite a hotter-than-expected inflation report released on Thursday. The consumer price index climbed 0.6% MoM and was higher by 5% YoY. S&P 500 advanced to a fresh record on the news while 10-year Treasury slipped back below 1.5% (not a typical move from a market worried about inflation). Perhaps markets found sufficient comfort that the gains were largely due to categories associated with a broader reopening of the economy such as used cars and trucks, and airfares fares which accounted for more than 50% of U.S CPI increase while there were fewer and fewer items rising by more than 2% in price. As...