Looks like SPY rebound strategy will continue as even a strong May and Jun (unlikely) still leads to a ccpi less than 2.0.  Gas buddy will fall away this month it looks like and gcpi will finish below 2.0 Jun 17.

Compare mo. CCPI in 2013 and 2014 and a projected strong May and Jun:

2013                   YoY      2014
May      0.14      1.89      0.2 (projected)
Jun       0.15      1.94      0.2 (projected)

CCPI ends at 1.94 YoY reported in July again assuming a very strong May and Jun.

Once again not enough inflation for a TLT play. Gas buddy appears to be falling fast now indicating a peak in liquidity.