(These are the market notes on today's action by Mike Santoli, CNBC's Senior Markets Commentator. See today's video update from Mike above.) What little tension the markets were holding heading into CPI report was released when the numbers didn't materially differ from forecasts and were paired with what appeared to be another sign of labor-market softening. Stock indexes released to new highs and Treasury yields compressed toward five-month lows as investors took the uptick in weekly jobless claims as permission to look through 3%-ish inflation and price in multiple Fed rate hikes. All the better that the weaker jobs data of the past two weeks can plausibly be seen as a head fake, or not fully representative of the underlying economic trajectory: If the Fed is mostly responding to iffy jo

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