U.S. PPI data raises concerns for Fed
Description
U.S. producer price inflation comes in hotter than expected on the back of the CPI data earlier in the week. The print potentially casts some doubt over next week’s widely anticipated Fed rate cut. Speaking to CNBC at the NYSE, President-elect Donald Trump said he was optimistic for investors. Asian equities, however, move lower and China’s 10-year treasury bond hits a record high following an uninspiring readout from the country’s Central Economic Work Conference. In Frankfurt, the ECB cuts rates by an expected 25bps but President Christine Lagarde tells CNBC that a larger move had been mooted. In Germany, industry continues to falter with electricity prices hitting an 18-year high following poor returns from renewable sources.
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