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Markets Puke As CPI Sends Rate-Hike Odds Soaring
The hotter than expected CPI print – following a hotter than expected PPI print – has sparked chaos in markets this morning…
Most importantly, rate-hike expectations have soared with the terminal rate now over 4.85%…
Critically, the market is now pricing in 18% odds of a 100bps hike in November…
30Y Yields are nearing 4.00% for the first time since August 2011…
10Y yields spiked back above 4.00%…
And 2Y Yields are testing 4.50%…
The dollar surged higher…
Gold slammed lower…
Bitcoin plunged back below $19,000…
And futures are plunging…
This is the 8th market crash response of the last 10 CPI days.
Americans opening their next 401k statement 5 days before the midterms pic.twitter.com/EEkHhbFfgH
— zerohedge (@zerohedge) October 13, 2022
Tyler Durden
Thu, 10/13/2022 – 08:55
