Market Wire, North America

Headline US consumer inflation jumped by more than expected in August, and core price growth gained momentum, putting upward pressure on short-term yields as market participants bet the Federal Reserve would continue tightening at an aggressive pace. According to data released by the Bureau of Labor Statistics this morning, the consumer price index climbed 8.3 percent in August from the same period last year, up 0.1 percent on a month-over-month basis. Economists polled by major data providers expected an 8.1 percent annual gain and a -0.1 percent decrease relative to July’s flat month-over-month number. A -5 percent month-over-month drop in...

315,000 jobs were created in the United States last month, and the unemployment rate climbed as participation levels rose – indicating that the labour market remains strong enough to withstand a three-quarter-point rate increase at the next Federal Reserve meeting, but also suggesting rates won’t have to climb quite as high in the longer term. According to data released by the Bureau of Labor Statistics this morning, the unemployment rate jumped to 3.7 percent in August, and the participation rate moved down to 62.4 percent from 62.1 in the prior month, indicating that workers are coming off the sidelines, attracted...