Daily Market Updates: Markets price higher odds of an October Fed hike after inflation surge

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Markets price higher odds of an October Fed hike after inflation surge

S&P Global said its overall inflation measure rose to the highest level since October 2022, adding pressure on the Fed’s next decision.

Reported · Written up by our desk · Central Banks

Markets are increasingly focused on the possibility of a Federal Reserve rate hike in October after a combination of comments from Fed policymaker John Barr and a hotter inflation reading, CNBC Markets said.

In particular, the publication cited S&P Global data showing its overall inflation measure climbed to the highest level since October 2022, intensifying expectations that policy may need to stay restrictive.

The shift in rate expectations reflects how investors are reacting to the latest inflation signal ahead of upcoming Fed communications and data releases, according to CNBC.

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Sources

CNBC MarketsMarket sees next Fed hike in October, following Barr comments and hot inflation reading

CNBC WorldMarket sees next Fed hike in October, following Barr comments and hot inflation reading

Bonds & Rates

Markets price higher odds of an October Fed hike after inflation surge

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