US consumer prices rose 0.4% in August, driven by a 3.9% jump in gasoline, leaving annual CPI at 3.4% and pushing Fed rate-hike odds to 69% ahead of the September 16 FOMC decision.
Tag: Federal Reserve
Posted inMarkets
Gold Retreats to $4,405 as August Payrolls Cement Federal Reserve Hike Bets
Spot gold fell 0.5 percent to $4,405 on September 7 as August payrolls nearly tripled expectations, pushing September Fed hike probability to 58 percent.
Posted inMarkets
Stocks Slide as Blowout August Payrolls Push September Rate Hike Odds to 58%
The S&P 500 fell 0.38 percent to 7,718 on September 5 as August non-farm payrolls came in at 162,000 — nearly triple the consensus estimate — driving Treasury yields sharply higher and reversing a week of easing rate-hike bets.
Posted inEconomy
US August Services PMI Rises to 55.4, Adding Pressure on Federal Reserve
The ISM Services PMI climbed from 54.1 to 55.4 in August, beating forecasts and signalling resilient domestic demand that complicates the Federal Reserve’s case for holding interest rates steady in September.
Posted inMarkets
Bitcoin Climbs 5.6% to $80,841 as Waller Rate-Hold Signal Sparks $440 Million Short Liquidation
Bitcoin jumped 5.6% to $80,841 on September 4 after Fed Governor Waller hinted at a possible September rate hold, triggering more than $440 million in short liquidations and lifting crypto equities sharply.
Posted inEconomy
August Payrolls Triple Estimates at 162,000, Pushing September Fed Hike Odds Higher
US employers added 162,000 jobs in August, more than tripling the 53,000 consensus estimate, with the unemployment rate steady at 4.1% and markets tilting back toward a September Federal Reserve rate increase.
Posted inMarkets
Wall Street Snaps Its September Slump as Waller Signals Willingness to Hold Rates
The Dow Jones rose 635 points on Thursday and the S&P 500 added 1 percent as Fed Governor Christopher Waller said he would support holding rates steady if inflation progress continues, halving hike odds.
Posted inEconomy
August Payrolls Due as Waller’s Rate-Hold Signal Cuts Fed Hike Bets to Coin-Flip Odds
The US August nonfarm payrolls report is due Friday at 8:30 AM ET, with economists projecting 53,000 new jobs after July’s contraction and ADP’s weakest private hiring reading since January.
Posted inEconomy
US Private Hiring Slows to 38,000 in August, Weakest Reading Since January
ADP’s August payroll survey shows private employers added just 38,000 jobs, the least since January, with manufacturing shedding 17,000 positions two days before the official BLS report.
Posted inMarkets
Gilts Lead a Global Bond Rout as Japan Yields Hit 3% for the First Time in 30 Years
On September 1, a global government bond selloff pushed UK 30-year gilt yields to 5.89% — their highest since 1998 — while Japan’s 10-year benchmark reached 3% for the first time since 1996.