The CPI annual rate in June was 3%, lower than the expected value of 3.10% and lower than the previous value of 3.30%. The core CPI annual rate in June was 3.3%, lower than the expected value of 3.40% and lower than the previous value of 3.40%. The monthly CPI rate in June was -0.1%, lower than the expected value of 0.10% and lower than the previous value of 0.00%. The U.S. inflation indicator, the monthly CPI rate in June recorded -0.1%, the first negative value since May 2020; the annual CPI rate in June was 3.0%, a sharp drop to the lowest level since June last year.

After the CPI was released, the probability of the Federal Reserve cutting interest rates for the first time in September increased significantly, and the interest rate swap market fully priced in the Federal Reserve's 25 basis point interest rate cut in September. Based on June inflation data, JPMorgan Chase believes that the Federal Reserve's interest rate cutting cycle will start early, and it is expected that the Federal Reserve will start cutting interest rates in September, rather than November as previously estimated. The address marked as "Germany" transferred 10,627 large pies on Thursday and continued to sell them. Currently, there are only 4,925 large pies left on the German address, which is 9.9% of the initial position.

Inflation has been falling for two consecutive months. The bull market cycle has solved the "necessary" condition of interest rate cuts, and the rest are minor problems.

The latest update was too late, so today's update is brief. #美国6月CPI大幅降温 #美联储何时降息？ #美国大选如何影响加密产业？