PPI, like CPI, was a little hot, with Core PPI 0.3% m/m vs. exp. 0.2%. On a Y/Y basis, though, and also similar to CPI, headline is now at 1.7% Y/Y, the lowest since February. More sticky inflation, which could be a problem if something like new spending post-election reignites inflation.
Jobless Claims were fine, again, at 230K vs. est. 229K, while Continuing Claims were 1850K vs. prev. 1845K.
The ECB cut rates by 25bps, as expected. They also upped inflation and lowered growth expectations.
Odds of a 50bps cut rose to 41% after Fed whisperer Timiraos from the WSJ said a cut of that side was a consideration.
The yen rose to fresh highs, though thus far markets haven't reacted to that like they had been. No Black Monday fears, this time? VIX can't even get out of bed.
UMich Consumer Sentiment, this morning.