US markets closed higher overnight, extending gains for the second session and ending just off best levels after rallying the last hour of trade.

A bit of volatility running into the CPI numbers. This CPI number tonight had better be good, but judging from the drop in bond yields running into tonight the bond market obviously thinks it knows. Let’s not waste any more breath, I’m not taking any bets ahead of it, although experience tells you that the bond market vibe shouldn’t be ignored.

Wall Street ended higher overnight in a muted day of trade ahead of CPI data Wednesday.