QQQ - Three In A Row: US CPI Firm Stocks Plunge 10yr Near 4.5%
2024-04-10 09:40:00 ET
Summary
- March CPI came in at 0.4%, exceeding expectations, indicating higher inflation.
- US real average hourly earnings rose 0.6% from a year ago, but at a slower pace than in February.
- Treasury yields rose and the probability of a June rate cut decreased after the strong CPI report, suggesting a less accommodative monetary policy.
March Headline CPI came in at 0.4% versus the expectation of 0.3%. The Core rate verified at 0.4%, also a tenth hotter than expected. The year-on-year Headline rate is 3.5%, above the 3.4% forecast, while Core CPI from a year ago is now 3.8%, a tick warmer than the consensus....
Three In A Row: US CPI Firm, Stocks Plunge, 10yr Near 4.5%