🌙 CPI is in, and the market did just one thing: take a December rate hike seriously
Before the close tonight, let’s get the numbers straight.
• October CPI rose 0.4% month over month, versus 0.3% expected
• Core CPI rose 0.3%, versus 0.2% expected
• After the data came out, $BTC briefly fell to around $73,600
• The 10-year US Treasury yield rose above 4.9%, while the 2-year yield jumped more than 15 basis points
• Officials did not provide year-over-year data, due to a gap left by last year’s shutdown
Seasoned market watchers know: when it comes to interest rates, the market doesn’t care whether the data is good or bad—it cares whether it beats expectations.
This time, expectations were broken, with the market leaning toward a rate hike.
What to watch tomorrow:
• November 11 at 21:00 Beijing time: ALLO’s first unlock; figures are subject to official confirmation
• Whether Treasury yields can keep climbing
• Buying support for $ETH around $2,100
My take: when macro forces are weighing on the market, don’t rush to call the bottom. First see whether buyers are willing to return.
Are you holding on tonight, or trimming your position a notch?
#CPI #加息预期
Not investment advice. DYOR
Before the close tonight, let’s get the numbers straight.
• October CPI rose 0.4% month over month, versus 0.3% expected
• Core CPI rose 0.3%, versus 0.2% expected
• After the data came out, $BTC briefly fell to around $73,600
• The 10-year US Treasury yield rose above 4.9%, while the 2-year yield jumped more than 15 basis points
• Officials did not provide year-over-year data, due to a gap left by last year’s shutdown
Seasoned market watchers know: when it comes to interest rates, the market doesn’t care whether the data is good or bad—it cares whether it beats expectations.
This time, expectations were broken, with the market leaning toward a rate hike.
What to watch tomorrow:
• November 11 at 21:00 Beijing time: ALLO’s first unlock; figures are subject to official confirmation
• Whether Treasury yields can keep climbing
• Buying support for $ETH around $2,100
My take: when macro forces are weighing on the market, don’t rush to call the bottom. First see whether buyers are willing to return.
Are you holding on tonight, or trimming your position a notch?
#CPI #加息预期
Not investment advice. DYOR
