HSBC Holdings PLCHSBA
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The July consumer price index report lands Wednesday with markets evenly split on whether the Federal Reserve will hold or hike rates in September. CME FedWatch data shows a 50.1% chance of a hold and a 49.9% chance of a hike, a dead heat that has tightened from 58% hike odds a week ago. A Wall Street Journal survey of 15 banks forecasts headline inflation at 0.12% monthly and 3.4% year-over-year, with core inflation at 0.22%. A soft print could lift stocks, bonds, and crypto, while a hot number may revive rate-hike bets and fuel stagflation fears, especially after core inflation on the Fed’s preferred gauge hit 3.3% in June. Bitcoin traded near $64,302 ahead of the release, up 0.8% in 24 hours.
HSBC Holdings PLC