SOFTER U.S. INFLATION CUTS FED HIKE ODDS

August core PCE fell to 3.0% YoY vs. 3.3% expected, while headline PCE came in at 3.4% vs. 3.7% forecast.

Q2 GDP was revised higher to 2.2% from 1.5%.

Kalshi now prices a 65% chance of no October Fed hike, versus 31% for a 25bp increase.
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(@WalterBloomberg)