US Edition
Asia markets stumble as hot PPI print reins in Fed rate cut hype
Higher US Producer Price Index data reduced expectations of a large Federal Reserve rate cut, with markets pricing a 92.1% chance of a smaller 25 basis point cut in September.
- Thursday’s PPI report showed a 0.9% increase, causing MSCI's Asia-Pacific index outside Japan to fall 0.3%, dampening Fed rate cut hopes.
- According to the CME Group’s FedWatch tool, swap-implied odds for a 50bp rate cut fell from 5.7% to 0%, reducing expectations for a jumbo cut at the September Fed meeting.
- Meanwhile, the two-year yield slipped to 3.7304 per cent, and the digital currency was last up 0.7 per cent, with Nasdaq futures down 0.1%.
- US stock futures were flat in early Asian trading, Nasdaq futures slid 0.1% for a third straight session, and the CSI 300 traded flat after Chinese data.
- Amid anticipation of Jackson Hole next week, DXY briefly strengthened above 98 before reversing, as analysts await hawkish remarks from Fed Chair Jerome Powell and cryptocurrency markets stabilised after Thursday’s bitcoin record proved fragile.
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14 Articles
14 Articles
Hot wholesale prices data puts wrinkle in Fed’s rate-cut roadmap - Hawaii Tribune-Herald
A jump in wholesale prices is likely to bolster concerns among Federal Reserve policymakers that rising inflation remains a risk, intensifying debate over the rationale for an interest rate cut next month and leaving the tension between the U.S. central bank and the White House unresolved.
Global Markets — Asia markets recover after hot US price data
SINGAPORE: Stocks in Asia made an uneven recovery as traders assessed the policy options facing the world’s central banks, after an unexpected spike in producer price data in the US renewed inflation concerns. MSCI’s broadest index of Asia-Pacific shares outside Japan was down 0.2 percent after a report on Thursday from the Bureau of Labor Statistics which showed the Producer
·Riyadh, Saudi Arabia
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Denver Gazette+2 Reposted by 2 other sources
Asia markets stumble as hot PPI print reins in Fed rate cut hype
By Gregor Stuart Hunter
·Denver, United States
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Coverage Details
Total News Sources14
Leaning Left2Leaning Right3Center3Last UpdatedBias Distribution38% Center, 38% Right
Bias Distribution
- 38% of the sources are Center, 38% of the sources lean Right
38% Right
L 25%
C 38%
R 38%
Factuality
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