US inflation just came in at 2.7%, matching December expectations and November's reading—but still down from September's 3.0%. These numbers matter: with equities, gold, silver, and Bitcoin all pricing in expectations about monetary policy and inflation trends, the softer inflation backdrop could reshape how different asset classes move in the coming weeks. The trajectory from 3.0% to 2.7% suggests deflationary pressures are building, which historically tends to support risk assets.