Asian shares climb after July U.S. CPI at 0.1% cuts September Fed hike odds to 34%
U.S. consumer prices rose 0.1% in July, matching expectations and cooling bets on a Federal Reserve rate increase in September. Money markets now price a 34% chance of a hike, down from 55% a week earlier. Asia-Pacific equities rose broadly, with MSCI’s Asia-Pacific index up 1.08% and South Korea’s Kospi surging 3.78%. U.S. and European equity index futures edged higher, while Brent slipped 0.2% and the U.S. 10-year yield fell to 4.678%.