Markets Breath Sigh Of Relief After In-Line Inflation Data: Stocks Rebound As Small Caps, Bonds Soar
Markets Breath Sigh Of Relief After In-Line Inflation Data: Stocks Rebound As Small Caps, Bonds Soar
In response to the data, speculators raised their expectations for an interest-rate cut, with increased bets on a 25-basis-point reduction in December. Market-implied probabilities now indicate a 79% likelihood of a December rate cut, up from 58% before the CPI report, as per the CME FedWatch tool.Investors can breathe a sigh of relief as October inflation data met economists' expectations, though the annual headline rate showed a slight uptick from the previous month.
投資者可以鬆一口氣，因爲十月份的通脹數據符合經濟學家的預期，儘管年度頭條利率相比上個月略有上升。
As anticipated, the Consumer Price Index (CPI) rose 2.6% year-over-year in October, marking an increase from September's 2.4% but snapping six straight months of declines.
正如預期，十月份的消費者價格指數（CPI）同比上漲了2.6%，較九月份的2.4%有所上升，但終結了連續六個月的下降趨勢。
Excluding food and energy, core inflation held steady at 3.3% for the third consecutive month, highlighting some stickiness in underlying price pressures that remain above the Fed's 2% target.
剔除食品和能源後，核心通脹連續第三個月保持在3.3%不變，突顯出潛在價格壓力的某種黏性，仍高於聯儲局2%的目標。
In response to the data, speculators raised their expectations for an interest-rate cut, with increased bets on a 25-basis-point reduction in December. Market-implied probabilities now indicate a 79% likelihood of a December rate cut, up from 58% before the CPI report, as per the CME FedWatch tool.
針對數據，投機者提高了對減息的預期，並增加了對十二月減息25個點子的押注。根據cme FedWatch工具，市場隱含的概率現在表明十二月減息的可能性爲79%，而在CPI報告之前爲58%。
Following the release, Minneapolis Fed President Neel Kashkari expressed optimism about inflation's trajectory, stating on Bloomberg TV, "I have confidence inflation is headed in the right direction."
在發佈後，明尼阿波利斯聯邦儲備銀行行長尼爾·卡什卡利在彭博電視上表示對通脹走勢的樂觀態度，稱：「我相信通脹正朝着正確的方向發展。」
On Tuesday, Kashkari had flagged the risk of a rate pause in December if inflation data surprises to the upside.
週二，卡什卡利曾指出，如果通脹數據意外走高，十二月可能存在暫停加息的風險。
"I am not yet seeing a lot of upside inflation risks; the bigger risk is getting stuck," he added on Wednesday.
他在週三補充道：「我還沒有看到很多通脹上行風險；更大的風險是被困在原地。」
Markets reacted positively, with U.S. equity futures slightly rising, while Treasury yields and the dollar eased amid increased rate-cut expectations.
市場反應積極，美國股票期貨小幅上升，而國債收益率和美元在減息預期增強的情況下有所回落。
Market Reactions
市場反應
- The S&P 500, as tracked by the SPDR S&P 500 ETF Trust (NYSE:SPY), was 0.2% higher.
- The Nasdaq 100, followed by the Invesco QQQ Trust, Series 1 (NASDAQ:QQQ), inched 0.15% higher.
- Small caps outperformed large-cap counterparts, as the iShares Russell 2000 (NYSE:IWM), rallied 1.1% minutes ahead the New York open.
- Top-performing S&P 500 stocks during the premarket trading were Charter Communications Inc. (NASDAQ:CHTR), GE Vernova Inc. (NYSE:GEV) and Albemarle Corp. (NYSE:ALB) up 5.7%, 4% and 3.7%, respectively.
- Skyworks Solutions Inc. (NASDAQ:SWKS), Fair Isaac Corp. (NYSE:FICO) and Bio-Techne Corp. (NASDAQ:TECH) were the laggards, down 6.7%, 4.1% and 2.8%, respectively.
- Gold prices rose 0.3%, following three straight sessions of declines.
- The U.S. dollar index (DXY) slightly eased 0.1%.
- Treasury-linked ETFs rose, with the iShares 20+ Year Treasury Bond ETF (NASDAQ:TLT) up by 0.7%.
- 標準普爾500指數（由SPDR標準普爾500信託基金（紐交所：SPY）跟蹤）上漲0.2%。
- 納斯達克100指數（由Invesco QQQ信託，系列1（納斯達克：QQQ）跟蹤）微幅上漲0.15%。
- 小型股表現優於大型股，iShares羅素2000（紐交所：IWM）在紐約市場開盤前幾分鐘上漲1.1%。
- 在市場開盤前，表現最好的標準普爾500股票是特許通訊公司（納斯達克：CHTR）、GE Vernova公司（紐交所：GEV）和Albemarle公司（紐交所：ALB），分別上漲5.7%、4%和3.7%。
- Skyworks Solutions公司（納斯達克：SWKS）、Fair Isaac公司（紐交所：FICO）和Bio-Techne公司（納斯達克：TECH）是拖後腿的股票，分別下跌6.7%、4.1%和2.8%。
- 黃金價格上漲0.3%，在連續三天下跌後反彈。
- 美元指數（DXY）稍微下跌0.1%。
- 與國債相關的etf上漲，iShares 20年以上國債etf（納斯達克:TLT）上漲了0.7%。
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譯文內容由第三人軟體翻譯。
