Last night, the U.S. March CPI data was pushed to a level not seen since 1967—

The monthly increase in gasoline prices hit the highest record since 1967.

There was no oil crisis in 1967, and Bitcoin's creator hadn't been born yet.

· CPI annual rate 3.3% (new high since May 2024)

· CPI monthly rate 0.9% (new high since June 2022)

· Gasoline year-over-year +18.9%

· Gasoline contributed three-quarters of the CPI increase

But one thing the market didn't see—core CPI monthly rate at 0.2%, below expectations.

Daly said plainly yesterday: "If the ceasefire can continue, CPI data will become irrelevant."

Translation: Tonight's Islamabad negotiations carry more weight than the CPI explosion.