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Aug 14 - U.S. consumer prices rebounded as expected in July, but the trend remained consistent with subsiding inflation and did not change expectations that the Federal Reserve will cut interest rates next month.
The odds of a rate cut at the Fed's Sept. 17-18 policy meeting are nearly split between half a percentage point and 25 basis points. On Wednesday futures moved slightly in favor of a 25 bp cut, with odds at 60.5% according to LSEG calculations.STOCKS: U.S. stock index futures extended a slight gain to 0.07% pointing to a steady open on Wall Street BONDS: The 10-year U.S. Treasury yield rose to 3.858% and the two-year yield rose to 3.977% FOREX: The dollar index pared early slippage to -0.
So I do think that the market is thinking that inflation is a little bit more sticky than the Fed was expecting, and they're penciling out some of that 50 basis point pricing.” "It clearly gives the Fed room to cut rates so it tells you inflation's moving in the right direction and the longer the Fed doesn't do anything, the more restrictive monetary policy is going to be."
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