Equities Up, Bond Yields Lower and Dollar Pretty Steady After PPI
August 13, 2026
Major U.S. equity indices strengthened 0.4-0.9%. The 10-year Treasury yield’s slide of six basis points leads reductions of 4 bps in France and Spain, 3 bps in Germany, Italy and the U.K., and 2 bps in Switzerland.
The weighted DXY dollar index edged 0.1% lower.
Perceived chances that the Fed tightens at its September review have fallen. CPI figures aligned with expectations, and PPI inflation of 4.7% undershot consensus. So did core PPI. It will take much lower readings to avert higher interest rates, and that’s unlike to evolve.
Other price figures announced today included -2.1% Swiss PPI inflation; 3.4% Irish CPI inflation; 3.6% Spanish inflation; and 4.9% Croatian PPI.
Euroland industrial production stagnated in June and was a mere 0.1% above its year-earlier level. British output in June was down 0.2% both on month and on year.
Central banks in Serbia and Norway left interest rates unchanged at 5.75% and 4.25%. No surprises there.
Copyright 2026, Larry Greenberg. All rights reserved.
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