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Wealth Daily 11 November 2021

Wednesday’s US consumer price index (CPI) reading was hotter-than-expected,

Higher inflation could dampen consumer demand and affect the Fed’s timeline

to taper asset purchases. US stocks fell, and Treasury yields spiked.

US inflation jumped a more-than-expected 6.2% yoy in Oct, the fastest pace

since Dec 1990. Core consumer prices accelerated to 4.6%. On a monthly

basis, CPI climbed 0.9%, more than double Sep's 0.4%.

The Dow Jones Industrial Average lost 240.04 pts, or 0.66%, to close at

36,079.94. The S&P 500 index fell 0.82%. The tech-heavy Nasdaq Composite

retreated 1.66%.

The yield on the 10-year Treasury note notched up 11.36 basis points (bps) to

1.5493%. The five-year breakeven rate on Treasury Inflation-Protected

Securities (TIPS) jumped about 14 bps to around 3.13%, a record high.

WEALTH DAILY 2021-11-11
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