According to the CITIC Securities Research Report, the US CPI in September exceeded expectations, the core was once again heated month-on-month, the details of price increases were broad, and the inflation rate did not “fall fast enough to the target.” CITIC Securities still expects the Federal Reserve to raise interest rates once more during the year, that is, a further 25 bps rate hike in December after being put on hold in October. In an environment where oil prices remain high and inflation remains sticky, it is difficult for US financial conditions to be meaningfully relaxed, US dollar liquidity is expected to remain tight, US bond interest rates have no clear downside, gold sentiment is still weak, and fundamental resilience is more important than liquidity odds.

According to the CITIC Securities Research Report, the US CPI in September exceeded expectations, the core was once again heated month-on-month, the details of price increases were broad, and the inflation rate did not “fall fast enough to the target.” CITIC Securities still expects the Federal Reserve to raise interest rates once more during the year, that is, a further 25 bps rate hike in December after being put on hold in October. In an environment where oil prices remain high and inflation remains sticky, it is difficult for US financial conditions to be meaningfully relaxed, US dollar liquidity is expected to remain tight, US bond interest rates have no clear downside, gold sentiment is still weak, and fundamental resilience is more important than liquidity odds.