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Heurist Finance

US inflation print to guide Fed as oil spike lifts yields

Bloomberg+1 ·
BZ=FSPY
US inflation print to guide Fed as oil spike lifts yields
  • Traders await the August US inflation report as the clearest signal on whether the Federal Reserve hikes interest rates next week.
  • A crude rally and surging yields put the S&P 500 on course for its worst week since June before index futures rebounded 0.4%.
  • Brent traded toward $105 a barrel and remained on track for a nearly 10% jump since Monday.
  • AP reports the inflation print arrives amid spiking oil prices, rising interest rates and a Federal Reserve on fence.
  • Treasury yields fell led by the short end, offering stocks and bonds respite as oil prices eased.

Quotes

“US stocks and Treasuries caught some respite as oil prices eased”— Bloomberg
“Brent dropped toward $105 a barrel, while still on track for a nearly 10% jump since Monday.”— Bloomberg
“Inflation report lands in a time of spiking oil prices, rising interest rates and Fed on fence”— AP

Sources