Stocks Soar, Yields and Dollar Drop as US Core Inflation Eased off 40-Year Highs in October to 6.3% from 6.6%

The CPI increased 0.4% in October as it did in September, and increased 7.7% in October from a year ago, the smallest 12-month increase since January 2022. CPI y/y was down from 8.2% in September. June’s 9.1% inflation rate was the highest in four decades. CPI has moderated after resurging in August with aggressive Fed interest rate rises. Monthly core decelerated sharply, from a month earlier, the core CPI climbed 0.3% easing from 0.6% last month. The market reaction to … Continue reading Stocks Soar, Yields and Dollar Drop as US Core Inflation Eased off 40-Year Highs in October to 6.3% from 6.6%