Nothing has been setting the US bond market’s direction this year more than the monthly inflation figures. This week will be no exception. The release of the April consumer-price index on Wednesday is poised to provide the biggest test yet of the rally that started this month when Federal Reserve Chair Jerome Powell swatted away worries that the central bank may raise interest rates again. It gained steam after the Labor Department reported a slowdown in job growth, pulling yields down sharply from last month’s peaks. The advance has increased the stakes in the upcoming inflation data — which could either extend it ... (full story)