Tickmill analyst Joseph Dahrieh stated in a report that U.S. CPI inflation data could move U.S. Treasury yields in either direction. A higher-than-expected CPI could boost yields and alleviate recent expectations of a Fed rate cut. Conversely, softening inflation data will lead to lower yields. He also noted that progress may be made on a ceasefire between Ukraine and Russia, which would help increase risk appetite. Current institutional surveys of analysts indicate that overall and core inflation rates in the U.S are expected to decline slightly in February.