With Saudi Arabia and Russia’s oil supply cuts, there’s a danger that the previous months of low inflation might be an outlier.
that economic signs have been encouraging lately — we've"a hell of a good week of data" on the inflation front — he emphasized it's more important to see if prices continue dipping in the long term.
"We got two good reports in a row," Waller said. The key now is to"see whether this low inflation is a trend or if it was just an outlier or a fluke.", there's a danger that the previous months of low inflation might be an outlier. After the news broke, October contracts for West Texas Intermediate rose to $86.68 per barrel and November contracts for Brent hit $90.03 a barrel, the highest levels for both in 10 months.
"Rising oil prices really feeds into the story about inflation," said Bill Merz, head of capital market research at U.S. Bank Wealth Management."And the story about inflation feeds into bond yields and a story about the Fed and what the Fed is going to do." Indeed, U.S. Treasury yields climbed on the news, because stronger inflationary pressures suggest higher — or at least persistently high — interest rates for longer. The yield on the 10-year and 2-year Treasurys jumped around 9 basis points to close at 4.266% and 4.96% respectively.
Higher Treasury yields and rising oil prices were bad news for stocks (except for those in the energy sector, like
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