刚刚！美联储，降息大消息！直线拉升！

Core Insights - The Producer Price Index (PPI) in the U.S. unexpectedly declined for the first time since April, reinforcing the case for the Federal Reserve to consider interest rate cuts [2][5]. Group 1: PPI Data - In August, the PPI fell by 0.1% month-over-month, with July's data revised downwards. Year-over-year, the PPI increased by 2.6% [2]. - Excluding food and energy, the prices of goods rose by 0.3%, while service costs decreased by 0.2% [6][7]. - The more stable PPI measure, excluding food, energy, and trade services, increased by 0.3%, indicating a 0.4% rise in the costs of intermediate demand processing products [7]. Group 2: Market Reactions - Following the PPI data release, U.S. stock index futures and Treasury prices rose, with the expectation of interest rate cuts by the Federal Reserve [6][8]. - The two-year Treasury yield fell, and the dollar weakened, as the market priced in three cumulative rate cuts by the end of 2025 [8]. Group 3: Economic Implications - The decline in PPI suggests that companies are cautious about raising prices amid economic uncertainty, despite higher costs from tariffs [5]. - The upcoming Consumer Price Index (CPI) data is anticipated to reveal how much of the tariff burden has been passed on to American households [6].