With the U.S. and China salvaging their trade truce, investors are turning their focus to the latest inflation report.

Data showed the annual rate of inflation edged up to 2.4% in May, from 2.3% in April, matching the expectations of economists polled by The Wall Street Journal. Monthly inflation, however, undershot forecasts at 0.1%. Futures rallied, while bond yields and the dollar dropped.

Late Tuesday, American and Chinese negotiators said they had agreed a framework to get trade talks back on track, essentially restoring last month’s pact in which both countries lowered tariffs.

President Trump said China had agreed to supply rare earths and magnets, while the U.S. would fulfil commitments such as permitting Chinese students to study in America. He said the deal was done, pending approval by him and by Chinese leader Xi Jinping.

Commerce Secretary Howard Lutnick earlier said he expects the president to approve the framework agreement as soon as Wednesday or Thursday.

Concerns the global economy will get walloped by Trump’s trade war have eased since the U.S. and China first brokered their 90-day détente. But concerns about levies on China and other countries fueling higher inflation remain elevated.

Trump’s far-reaching global tariffs are likely to remain in place for at least the next two months. A federal appeals court granted the administration’s request to keep them in effect until it hears arguments on July 31.