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The US Consumer Price Index report is expected to show easing inflation, the Securities and Exchange Commission rules out swing pricing, and [View in browser]( [Bloomberg]( The US Consumer Price Index report is expected to show easing inflation, the Securities and Exchange Commission rules out swing pricing, and Chinese regulators respond to Goldman Sach’s bearish report. — [Tiffany Tsoi]( CPI report [Slowing headline and core inflation rates in the latest US Consumer Price Index figures due today could be pivotal for policymakers in the months ahead](. Both headline and core indexes will post a 0.2% advance in June, marking the smallest rise in core prices since 2021, Bloomberg Economics predicts. For the Federal Reserve, “soft inflation data could sow doubt about the need to hike again,” Bloomberg economists Anna Wong and Jonathan Church wrote. The Fed will go on an “extended pause” starting next month, they added. Swing pricing [The SEC has removed “swing pricing’’ from its plan to overhaul money markets](, signaling a victory for the likes of JP Morgan’s asset management unit and State Street, which have opposed the measure on the basis that it would drive up investor costs and significantly decrease assets. The regulator still intends to impose other liquidity fees that will affect parts of the $5.5 trillion industry, however, as it decides on tougher rules aimed at stemming rapid outflows during times of financial stress. China vs. Goldman China’s financial regulator asked banks to respond to a bearish research report released by Goldman Sachs on its economy, underscoring heightened sensitivity in Beijing toward negative market commentary. China Merchants Bank Co. [addressed]( the Goldman report in a clarification statement dated Friday, saying it had “misled some investors” and was “illogical.” This followed a similar rebuttal in the state-run Securities Times newspaper last week. The unusually public backlash against Goldman’s research has put a spotlight on official efforts to counter negative investor sentiment toward markets and the economy. Mixed markets Both S&P 500 and Nasdaq 100 futures climbed 0.2% as of 5:05 a.m. in New York. Treasury yields fell across all maturities. The dollar is weakening, while gold, oil, and iron ore prices have increased.  Coming up… At 7 a.m., the Mortgage Bankers Association will be releasing its mortgage applications data. June CPI data is due at 8:30 a.m., with EIA US Crude Oil Inventories coming at 10:30 a.m. The Department of Agriculture will be releasing its World Agricultural Supply and Demand Estimates report at 12:00 p.m. At 8:30 a.m., Richmond Fed President Tom Barkin is speaking, then Minneapolis Fed President Neel Kashkari at 9:45 a.m., Atlanta Fed President Raphael Bostic at 2 p.m., and Cleveland Fed President Loretta Mester at 4 p.m. The Fed is also issuing its Beige Book at 2 p.m. Biden is meeting Zelenskiy at 8:45 a.m. and addressing the NATO summit later. White House economic adviser Lael Brainard is addressing the Economic Club of New York at 12 p.m., and at 7 p.m., Elon Musk is hosting an AI-focused Twitter event with US House lawmakers. The US is selling $46 billion 17-week bills at 11:30 a.m., and $32 billion 10-year notes reopening at 1:00 p.m. This week, the [MLIV Pulse survey]( focuses on [Elon Musk](. Will he ever get Twitter's value up to what he paid for the social media company? Will Threads top it in terms of number of users? What about Tesla? Is its AI potential fully priced in, overpriced, or does the company have yet to have its ChatGPT-like moment, when it rolls out self-driving cars? Share your views [here](. What we’ve been reading Here’s what caught our eye over the past 24 hours: - [Microsoft has been cleared to buy Activision in the US, as the UK regulator has also paused its fight]( - [AI is making politics easier, cheaper and more dangerous]( - [The Bank of England warns on growing mortgage pain for households]( - [Even rich homebuyers are shying away from London’s property market]( - People are actually planning on [watching Barbie and Oppenheimer on the same day](, data shows - [“Flying dress” photo shoots]( in must-see destinations are fueling a boom for the leisure photography industry—and for local businesses - [Can stress cause hair loss?]( And finally, here’s what Joe’s interested in this morning… Hello and Happy CPI Day. Economists expect Core CPI to rise by 0.3% sequentially, a step down from 0.4% last month. There's some talk about how we could be in for a bout of "transitory disinflation". In other words, maybe we get a stretch of cool prints for various idiosyncratic reasons that aren't sustained. Who knows. Here's a great preview from [Employ America](. As always with the report, people will slice it in a bunch of different ways. Supercore inflation. Core inflation ex-shelter. You name it. I liked this chart from [Guy Berger of LinkedIn,]( showing a pronounced cooling for the Cleveland Fed's Trimmed Mean CPI, which basically attempts to lop off outliers on both ends. There's always noise, but hopefully this trend continues. Follow Bloomberg's Joe Weisenthal on Twitter @TheStalwart Follow Us Like getting this newsletter? [Subscribe to Bloomberg.com]( for unlimited access to trusted, data-driven journalism and subscriber-only insights. Before it’s here, it’s on the Bloomberg Terminal. Find out more about how the Terminal delivers information and analysis that financial professionals can’t find anywhere else. [Learn more](. 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