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Market move● Neutral for Indian equities
Dow Jones falls over 570 points from highs despite softer inflation print; Here's why
The brief
- August PCE inflation cut the probability of a 25-basis-point Fed rate hike in October to 38%, from 70%
- Treasury Yields Hit Fresh Highs
- US dollar retreats after softer-than-expected inflation data
- US yields pull back as rate hike bets ease after inflation data
- US core PCE inflation undershoots estimates as Q2 GDP growth is revised to 2.2%
- US PCE inflation rises 0.3% in August as consumer spending surges