The US September CPI rose 3.7% year-on-year, higher than the expected 3.6%; the core CPI rose 0.3% month-on-month, also higher than the market expectation of 0.2%. Market forecaster Kalshi now predicts that the probability of a Fed rate hike in October has increased from 21% to 33%, while the probability of keeping rates unchanged has decreased from 79% to 65%.
