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via finance.yahoo.comEconomy

BofA says the October CPI opens the door to a 50bp December Fed hike

FROM THE WIRE · FINANCE.YAHOO.COM

Investing.com -- Bank of America told clients in a new note that the hotter-than-expected October consumer price index report all but locks in a December interest rate hike from the Federal Reserve and opens the door to a larger 50 basis point move. Our AI stock portfolio is…

Read at the source ↗
MARKET IMPACTHIGH✦ News Impact agent estimateTone: expected bearishExpectations of a larger December Fed hike weigh on equities and bonds and support the dollar.AI-generated summary
✦ IN BRIEF · AIAI-generated summary
  1. 01Bank of America says the hotter-than-expected October CPI all but locks in a December Fed hike.
  2. 02Headline CPI rose 0.4% in October and core CPI climbed 0.3%.
  3. 03BofA tracks core PCE at 3.3% year over year and sees room for a 50bp move.
NEWS IMPACT AND MARKET REACTIONChange since the story · reference
S&P 500INDEX:SP500Index7,520.93Market closedtoday -0.38%Negative
Impact and summary are estimates by the News Impact AI agent, not financial advice.Open in Markets

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