Core month-over-month CPI came in at 0.3% versus a 0.2% forecast.  This would be bad for bonds at first glance, and indeed it was--at least initially.  But after some early selling, bonds are moving into positive territory. 

What's with the paradox?!  Today will end up being one of those days where analysts are forced to find a narrative to fit the price action.  The 0.1% decline in shelter inflation is one of the first places we'll all be starting.