This morning, Brent crude jumped to $99.67, and $100 is basically within reach. Tomorrow’s PPI (the 10th) and the CPI on the 11th—if both data releases come in hotter than expected again, then a September rate hike would be only natural. Oil prices also directly affect inflation, and expectations for another hike in December have started to heat up as well.
Whether the market can withstand even one rate hike is still questionable. If the Fed raises rates twice consecutively this year, U.S. Treasury yields would likely keep pushing higher, and risk assets like U.S. stocks and BTC won’t feel comfortable either. For the remaining months of this year, market conditions will likely look grim.
Whether the market can withstand even one rate hike is still questionable. If the Fed raises rates twice consecutively this year, U.S. Treasury yields would likely keep pushing higher, and risk assets like U.S. stocks and BTC won’t feel comfortable either. For the remaining months of this year, market conditions will likely look grim.