Fed Governor Waller said overnight he'd back a December hike even if inflation came in cool. October CPI then came in at 0.4% against a 0.3% forecast.
$BTC was near $74,300 before the number. It's around $73,200 now.
Core CPI, the version without food and energy, rose 0.3% against 0.2% expected. September's headline was 0.6%, so prices did slow down, just not as much as anyone hoped. There's still no year-on-year figure, because October 2025 was never fully collected during the shutdown.
Waller had a second line ready too: a hot print could make a 50bp move worth considering. The 2-year Treasury yield jumped about 14bp after the release as traders priced in a small chance of exactly that.
Bitcoin dipped to about $73,500 in the first five minutes and kept sliding from there. Roughly $200M of crypto longs were closed out around the release.
A hike was already the base case before the print. The data didn't change the plan. It just signed it.
#CPI #Fed
NFA. DYOR.
$BTC was near $74,300 before the number. It's around $73,200 now.
Core CPI, the version without food and energy, rose 0.3% against 0.2% expected. September's headline was 0.6%, so prices did slow down, just not as much as anyone hoped. There's still no year-on-year figure, because October 2025 was never fully collected during the shutdown.
Waller had a second line ready too: a hot print could make a 50bp move worth considering. The 2-year Treasury yield jumped about 14bp after the release as traders priced in a small chance of exactly that.
Bitcoin dipped to about $73,500 in the first five minutes and kept sliding from there. Roughly $200M of crypto longs were closed out around the release.
A hike was already the base case before the print. The data didn't change the plan. It just signed it.
#CPI #Fed
NFA. DYOR.
