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Bank of Montreal  on the US inflation data. Fist, the TL;DR key takeaway:

• sets the Fed up well to begin cutting in September

More (in brief):

• The
   net of the data reinforces the dovish messaging from Powell and offers
  confirmation that the Fed's tighter policy stance is weighing on
  consumer price inflation.
• Initial Jobless Claims ... Continuing Claims were also better-than-expected
• Treasuries
   are stronger in the wake of the release and we suspect that the net of
  this week's bond bullish events will set the tone for the coming weeks
  and embolden dip-buyers as the cooling inflation data sets the Fed up
  well to begin cutting in September. 10-year yields have slipped to
  4.173% -- setting a new local low that will be resistance in the event
  of follow-through strength.