Latest US CPI is no good news for the Fed doves | MarketTalk: What’s up today? | Swissquote
Oops. Inflation in the US came in hotter-than-expected in September and weighed on the mood at the Federal Reserve (Fed) doves’ camp. The US yields and the dollar strengthened, major US indices whipsawed, but the reaction was mixed and the markets traded up and down in disbelief that the Fed may have been wrong in cutting rates by 50bp last month. Due today, the PPI data could confirm that the last mile to bring inflation down to 2% won’t be a walk in the park.
Either way, the bank earnings will steal a part of the investor attention to the...