Investors can breathe a sigh of relief on Thursday as last month’s Producer Price Index (PPI) inflation turned out slightly lower than expected, albeit with some caveats across different measures within the basket. Stocks rebounded by noon trading in New York, yet the surge fell short of recovering Wednesday’s losses, indicating lingering nervousness regarding the rate-path outlook. Traders have significantly adjusted their expectations for the Fed’s future actions in the past 24 hours, pushing the potential first-rate cut from June to September, with less than two cuts priced in by year-end. The tech-heavy Nasdaq 100 outperformed the broader market, up 1.2%, driven by a rally in the semiconductor industry, with Nvidia Corp. (NASDAQ:NVDA) surging 3.1% following a 2% increase the previous day. Treasury yields stayed flat in the short-end, while inching higher in the long-end of the curve, triggering further declines in long-dated Treasury bonds. The iShares 20+ Year Treasury Bond ETF ...