What’s the key number that investors were looking out for in the past week? No, it’s not the $11 million prize money for the 14 July Toto draw.
The market was watching closely for how much US consumer prices rose in June. And the figure that came out – a 9.1% increase compared to the previous year, took most by surprise.
Take a minute to digest this. For a basket of consumer goods that cost $100 just a year ago, it’s now going to cost US consumers $109.
This led the market to start talking about the Fed raising interest rates by 1.00 percentage point at its upcoming meeting later this month. That’s a whopping 1% increase all at once.
Again, take a minute to think about how this will change
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