June CPI report offers slight relief as markets price in one September rate hike

Macro
โดย Yahoo Finance·Read original
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The June Consumer Price Index report provided a modest reprieve, with core inflation coming in at 0% month-over-month, a positive surprise against expectations for a hotter reading. Long-term yields, such as the 30-year, declined toward 5% after being well above that level. Stocks edged higher, with the Nasdaq up about 0.5%, though the overall reaction was muted. According to the CME FedWatch tool, markets are now pricing in only one rate hike in September, down from earlier expectations of multiple hikes, while some analysts suggest the Federal Reserve may hold rates steady with no moves at all. Uncertainty remains around how rising oil prices and geopolitical tensions will affect future inflation reports.

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