The US September PPI, released this week, rose 6.3% month-over-month, beating the expected 5.3%, and increased 1.3% year-over-year, surpassing the forecast of 0.5%. Citibank now anticipates a rate hike in December, while UBS forecasts a third hike in March.
Rising rate expectations may have already been priced in by the market too early.
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