🔥 Hot CPI fuels Fed hike bets
US October CPI rose 0.4% m/m (forecast 0.3%), and core came in at 0.3% vs 0.2% expected. Fed’s Waller said a 50 bp hike should be considered in December. CME FedWatch prices a December hike at about 88%. 📈 The 10-year yield is near 4.99%. 🏛️ The US bond market is closed today for Veterans Day.
🌏 Asia
🇯🇵 Nikkei +1.4% (61,298) | 🇰🇷 Kospi +2.4% (5,364) | 🇹🇼 Taiex +3.1% (44,042) on TSMC’s strong October sales 💪
🇨🇳 Shanghai +0.6% (3,686) as Singles’ Day kicks off 🛍️ | 🇭🇰 Hang Seng −0.7% (24,388)
🇦🇺 ASX 200 +0.3% | 🇮🇳 Nifty 50 +1.4%
🇺🇸 Wall Street (Tuesday close)
S&P 500 −0.38% (7,520.93) | Dow −0.30% (52,231.89) | Nasdaq −0.74% (25,065.87) 📉
Nvidia fell over 5% and weighed on tech.
💱 Markets
💶 EUR/USD 1.1157 | 💴 USD/JPY 158.82
🥇 Gold ~$4,057 after a 2.6% drop on Tuesday | 🥈 Silver ~$53.0 (+2.9%)
🛢️ Brent ~$92.6, WTI ~$86.7 – oil is near its lowest since late August as Trump signals the Iran conflict is winding down
₿ Bitcoin ~$73,850, near 11-week lows after about $720M in liquidations | Ether ~$2,070
📅 Ahead
🇩🇪 Germany final CPI today | 🇬🇧 UK Q3 GDP on Thursday | 🇺🇸 US PPI on Friday
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