there may be some market jitters around inflation figures coming out of the US my entire portfolio was red today...
To conclude the narrative around possible reasons for a general sell-off yesterday, it never really amounted to anything on Wall Street overnight. The pace of inflation was shown to be slowing, so that would - and did - ease market fears that The Fed might move sooner to raise interest rates.
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Inflation remained elevated in July, but showed evidence of cooling as the economic recovery continued amid pandemic-related supply problems and signs that the recent rise in coronavirus infections is starting to crimp some business activity.
Consumer prices rose 5.4% in July from a year earlier, the same pace as in June, the highest 12-month rate since 2008, the Labor Department reported Wednesday.
On a monthly basis, however, price pressures weakened. The department’s consumer-price index climbed a seasonally adjusted 0.5% in July from June, a significantly slower pace than its 0.9% increase in June from May, though well above the average 0.2% rate from 2000 to 2019.
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