A broad-based selloff sent equities to their worst day in more than two years after hotter-than-expected inflation data fueled bets on a jumbo hike by the Federal Reserve next week. Treasury yields surged and the dollar gained.
The consumer price index increased 0.1 per cent from July, after no change in the prior month, Labor Department data showed Tuesday. From a year earlier, prices climbed 8.3 per cent, a slight deceleration but still more than the median estimate of 8.1 per cent . So-called core CPI, which strips out the more volatile food and energy components, also topped forecasts.
“Core cost-of-living prices falling when labor markets are tight with nominal wages rising rapidly is not going to produce the soft-landing fairy tale,” Steven Blitz, chief US economist at TS Lombard, said. “The Fed had better odds of rolling a hard eight than engineering a soft landing.There is no Fed pivot to prevent one, there is no turning back from the path they are on.”
Belgique Dernières Nouvelles, Belgique Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
La source: BNNBloomberg - 🏆 83. / 50 Lire la suite »