All Eyes on Powell as Markets Struggle Amidst August CPI Report Array ( [cookie] => 194a36-3b9852-2a2af1-9814e4-5c4034 [current_usage] => 2 [max_usage] => 2 [current_usage_crypto] => 1 [max_usage_crypto] => 2 [lock] => 1 [message] => [error] => [active_member] => 0 [subscriber] => 0 [role] => [visitor_id] => 145948 [reason] => [method] => ) 1 and can accesss

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Markets had a treacherous week following the hotter-than-expected August CPI print, with major indexes posting their worst weekly performances in months. Following Tuesday’s CPI release, the Nasdaq 100 went completely “no-bid”, all 30 stocks in the DJIA declined, as did all 11 sectors in the S&P 500. Yields propelled higher with the 2Y yield rising to 3.86% and the 10Y closing the week at 3.45%. All eyes remain focused on next week’s FOMC meeting, where it is expected that the central bank will raise rates another 75bps. The Bank of England and Bank of Japan are due to announce their monetary policy decisions next week as well, opening up the potential for increased volatility. Shares of FedEx tumbled after the shipping giant warned of a slowdown in deliveries, due to macro headwinds.