PPI surged to its highest level since 2022, and bets on an October rate hike spiked before falling back to around 20–30%.
U.S. stocks had a pretty choppy reaction after the PPI report: the Nasdaq fell more than 1% intraday again, and chip stocks took another beating, with Micron, AMD and SanDisk down 4% to 6%. South Korea’s index triggered a circuit breaker, extending its losing streak to seven sessions.
My sense is that what the market fears now isn’t inflation anymore, but whether the AI bubble is sturdy enough to hold up. The money hasn’t all fled—it’s just turned around and piled into bonds, pushing the 10-year yield down to 5.05%.
#美股 #PPI
U.S. stocks had a pretty choppy reaction after the PPI report: the Nasdaq fell more than 1% intraday again, and chip stocks took another beating, with Micron, AMD and SanDisk down 4% to 6%. South Korea’s index triggered a circuit breaker, extending its losing streak to seven sessions.
My sense is that what the market fears now isn’t inflation anymore, but whether the AI bubble is sturdy enough to hold up. The money hasn’t all fled—it’s just turned around and piled into bonds, pushing the 10-year yield down to 5.05%.
#美股 #PPI