Yesterday's assignment analyzed the CPI data. My personal view is that, according to market expectations, there will be no change to the December Fed rate cut expectations. Before the announcement, the probability of a December rate cut on CME was 86.1%, and 87% on Polymarket.
The released CPI data matched market expectations. The broad CPI slightly increased from 2.6% to 2.7%, and the monthly rate increased from 0.2% to 0.3%. However, the most important core CPI did not change, remaining the same for December as it was for November. Therefore, the market expectations and the final result are highly consistent, and I believe it won't have a significant impact on the market.
Continue to wait for the trend after the US stock market opens. In recent days, the market has been dumping after the opening and then rebounding after the closing at 5 AM. However, there shouldn't be any risk-averse content today, so we can look forward to it.
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