机构：住房成本成关键拉动力，CPI数据为降息打开更大空间

Core Viewpoint - Inflation data is overall lower than expected, providing relief to the market, primarily driven by housing costs [1] Market Reaction - Futures, bonds, and commodities (with gold recovering from lows) have reacted positively to the inflation data [1] - Initial market response is optimistic, as the data offers greater operational space for the Federal Reserve to consider interest rate cuts [1] Federal Reserve Implications - The current market trend is primarily driven by expectations of interest rate cuts [1] - Greater policy space for the Federal Reserve benefits the market, indicating liquidity support from potential rate cuts and suggesting other monetary easing may follow [1] Bond Market Impact - Declining bond yields are favorable for the fiscal side, aiding government financing and future bond issuance [1] - Overall, the inflation data is viewed positively, enhancing market conditions [1]