Yesterday these fell back as well, and while the rise in the US dollar may have had a part to play in that, it's still welcome news at a time when investors are concerned about central banks overtightening. ![]() ![]() US headline CPI has been falling from its peaks in June for several months now, but core prices have proved to be slightly stickier. The rally was given added legs by at least three Fed speakers, Dallas Fed President Lorie Logan, Philadelphia Fed President Patrick Harker, and San Francisco Fed President Mary Daly, who indicated that a slower pace of rate hikes might be appropriate. With all the bad news that has dominated the airwaves in recent months it was very welcome to see that US CPI rose significantly less than expected in October to its lowest level since January, prompting a huge relief rally in stocks, bonds as well as a sharp selloff in the US dollar.
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