US inflation unexpectedly rose in January, supporting the Fed's gradual rate cut

Odaily Planet Daily News According to the United States, the annual inflation rate unexpectedly rose to 3% in January. Economists expect the inflation rate to stabilize at the level of 2.9% in December last year, which supported the Federal Reserve’s slow progress in interest rate cuts and hit the stock market and government bonds. The month-on-month increase in January also exceeded expectations, at 0.5%, higher than the expected 0.3%. After the data was released, government bonds and stock futures suffered significant dumping. The two-year US Treasury yield closely related to the Intrerest Rate expectations surged to 4.37%. S&P 500 index futures, Nasdaq futures both fell by more than 1%. (FX168)