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Five Things You Need to Know to Start Your Day

S&P 500 Index's 4-week performance approaching two standard deviations

The inflation scare, a landmark bill and there might be worse to come for corporate bonds.

With CPI this week, the perennial question remains: are we near the peak? Blackrock portfolio manager Jeffrey Rosenberg believes we're going to see inflation "decline," but asks, "to what level?" This will be an ongoing debate. Lawrence Summers warns that inflation could prove sticky and it will take a couple of years of unemployment in the "6% or above range" to bring it back to heel. We'll find out some of the Federal Reserve's thinking, with three Fed presidents -- Charles Evans, Neel Kashkari and Mary Daly -- all speaking this week, the latter speaking on Bloomberg Television on Thursday, a day after the CPI figures are released.