【Data Flash】PPI monthly rate falls short of expectations, but year-on-year growth of 6.5% overshadowed the positive news
At 13:30 UTC, PPI monthly rate came in at 0.3% (0.4% expected), while core PPI at 0.3% met expectations. Yet the 10-year Treasury yield rose 3 bp to 5.17, and Bitcoin was down 0.4% after the release.
Normally, softer data would send yields lower. This time was different, possibly because the year-on-year figure of 6.5% was the highest in nearly four years, making markets more concerned about rate hikes.
$SPY may still be under pressure from high interest rates; in the short term, crypto may continue to track rate expectations.
#PPI #美债收益率 #Bitcoin
At 13:30 UTC, PPI monthly rate came in at 0.3% (0.4% expected), while core PPI at 0.3% met expectations. Yet the 10-year Treasury yield rose 3 bp to 5.17, and Bitcoin was down 0.4% after the release.
Normally, softer data would send yields lower. This time was different, possibly because the year-on-year figure of 6.5% was the highest in nearly four years, making markets more concerned about rate hikes.
$SPY may still be under pressure from high interest rates; in the short term, crypto may continue to track rate expectations.
#PPI #美债收益率 #Bitcoin
