Powerful CPI

An October print in the United States initiates a global rates rally

The October CPI in the United States might be the most important in confirming the unlikely immaculate disinflation that central bankers will have dreamt of since the pandemic—certainly, the “market” took the number as a strong signal that the hiking cycle may have come to an end.

And policymakers have also acknowledged the good news, while hinting at how this will impact policy in terms of the Taylor Rule.