Inflation - Direction Matters

Inflation

As commodity and oil prices move lower, inflation pressure may start to ease as well.

The charts below, provided by Hedgeye Risk Management, our independent research provider, show that both commodities and oil have shifted into a more bearish trend since early May.

Source: Hedgeye Risk Management retrieved June 17, 2026

Source: Hedgeye Risk Management retrieved June 17, 2026

Based on that shift, Hedgeye expects the May U.S. headline Consumer Price Index inflation number to decelerate.

Source: Hedgeye Risk Management retrieved June 17, 2026

That would be welcome news for many consumers, especially after a long stretch of higher prices.

The table below reflects trend signals published by Hedgeye Risk Management as of June 17, 2026.

These signals  are one input among many considered by our investment team and may not align with positioning in any client portfolio. Individual securities and commodities referenced may not be suitable for any particular investor. Clients should not act on this information without consulting their portfolio manager.

Tactical Trend Changes📈
Technical trends are analytical observations and do not guarantee future results

Gold Commodity …………Neutral to Bullish
Short Duration Bonds  …..Neutral to Bullish
Long Duration Bonds ……Neutral to Bullish
Financial Equities ………..Neutral to Bullish

 Source Hedgeye Risk Management - retrieved June 17, 2026

Bullish: a view that the price of a security or market may rise, subject to significant uncertainty and risk of loss.Bearish: a view that the price may fall, subject to significant uncertainty and risk of loss.Neutral: a view that the price may remain relatively stable. These terms reflect third-party and/or general market views and are not recommendations or predictions.