Economic Indicators - In November, the US CPI and core CPI recorded year-on-year increases of 2.7% and 3.3%, respectively, both in line with expectations[2] - The average month-on-month CPI in the US from January to November 2024 was 0.22%, a decrease from 0.28% in 2023[7] - The US PPI and core PPI in November were significantly higher than expected, with the PPI year-on-year at 3.0% against an expectation of 2.6%[12] Market Trends - The S&P 500 and Dow Jones indices fell by 0.6% and 1.8%, respectively, while the Nasdaq rose by 0.3% in the week ending December 13[24] - The 10-year US Treasury yield increased by 25 basis points to 4.40%, reaching a three-week high[29] - The dollar index rose by 0.92% to 106.94, while the yen depreciated significantly, falling 2.36% against the dollar[3] Central Bank Policies - The European Central Bank (ECB) lowered interest rates by 25 basis points and revised down its economic growth and inflation forecasts for the next two years[17] - Market expectations for a 25 basis point rate cut in December 2024 rose to 96%, up from 86% the previous week[13] - The Bank of Japan is expected to maintain its current interest rates, focusing on assessing overseas risks and domestic wage trends[23]
海外宏观周报：美国CPI合意，PPI存忧
Ping An Securities·2024-12-15 15:07