4 Hrs
Source:
الاقتصادية
Inflation Spurs Hike Bets
A rise in U.S. inflation revived bets on a December rate hike: the consumer price index rose 0.4% in October, exceeding forecasts of 0.3%, despite slowing from 0.6% in September. Traders expect two rate hikes of 25 basis points each by March. Meanwhile, the two-year Treasury yield climbed to 4.69% and the dollar strengthened, while European stocks fell and Wall Street prepared for a lower open. Brent crude dropped more than 3.2% to below $90 a barrel, but the decline in oil prices did little to ease investors’ concerns about inflation and continued tight monetary policy.
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