US Inflation: Why November CPI Is More Important Than Markets Think

• The next inflation report could sway stocks more than investors may think, BofA said.
• Options are implying the smallest CPI-related move for the S&P 500 since 2021.
• However, BofA argues that the report will set the tone for stocks in the near term.

The market’s worries over inflation have eased, but November price data due out on Wednesday will be a bigger deal for stocks than investors may think, Bank of America said in a note on Monday.