US wholesale inventories rise 1.3% in July, matching forecasts
U.S. wholesale inventories rose 1.3% in July, matching expectations, while sales rebounded 0.8% after a decline.
Inflation, employment, growth data and central bank decisions, and how they reprice risk across markets.
U.S. wholesale inventories rose 1.3% in July, matching expectations, while sales rebounded 0.8% after a decline.
August existing home sales hit 3.98 million, matching estimates, with a 2.0% fall from the prior month.
Oil crosses $100, 10-year yields reach 4.90%, and hot PPI reinforces Sept. 16 Fed hike bets.
ECB President Lagarde said the eurozone economy is resilient and the near-term outlook has improved.
US weekly jobless claims came in at 206,000, near the 205,000 estimate, with continuing claims slightly below expectations.
US August PPI came in at 5.4% annually, slightly above the 5.3% forecast, with dollar strengthening on the data.
Oil and Treasury yields climbed, gold slipped and European equities edged higher as investors awaited the ECB decision and US CPI.
Rising oil prices above $100 push bond yields higher as inflation concerns persist, with central banks facing increasing pressure.
Markets see high odds the ECB, Bank of Japan and Federal Reserve all raise rates this month, with the Fed's decision hinging on Friday's CPI report.
Gold continues to be the main expression of the debasement trade, while Bitcoin lags due to its sensitivity to liquidity and risk appetites.
ECB expected to hike 25bps to 2.50%, fully priced in. Focus on Lagarde's tone and updated projections amid energy shock.
European stocks opened slightly higher on Thursday as markets await the ECB's expected 25 bps rate hike.
The ECB is expected to raise rates by 25 bps to 2.50%, with analysts divided on whether this marks the peak or another hike in December.
Germany's final August CPI confirmed 2.9% y/y, as energy price inflation surged 10.5%.
The US Treasury tripled its bond buyback to $6 billion, but 10-year yields remain near 4.85% as expectations were for a larger intervention and inflation…