U.S. inflation print stronger than expected

Squawk Box Europe Express

U.S. inflation data comes in higher than expected with the 10-year Treasury yield held above 4 per cent. Atlanta Fed President Raphael Bostic has proposed a pause in the cutting cycle at next month’s Fed meeting. Tesla CEO Elon Musk unveils the company’s long-awaited ‘Cybercab’ with a prospective production date in 2026 but early market indications are potentially sceptical. In China, there is further trouble for the markets with the Shenzhen Composite tumbling by more than 15 per cent for the week ahead of tomorrow’s finance ministry press conference. And the new French government launches its 2025 budget, which includes €60bn of tax hikes and spending cuts, in a bid to slash the country’s ballooning deficit.

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