Overview

• July’s PPI rose 0.9% month-on-month, exceeding the 0.2% consensus and marking its largest underlying gain since early 2022.
• CME FedWatch indicators show the probability of a September Fed rate cut has fallen from above 96% to around 90.5% since the PPI release.
• Two-year Treasury yields jumped to roughly 3.72% and ten-year yields neared 4.26% on revised easing expectations.
• Investors are awaiting key US data—retail sales, industrial output and consumer confidence—and Friday’s Trump–Putin Alaska summit for fresh market direction.
• Bitcoin climbed to an intraday high near $124,514, driven by institutional ETF inflows and recent US regulatory support for crypto.