
Hike Comes Into Sight
U.S. equities slipped last week as renewed U.S.-Iran escalation sent oil above $100, revived inflation concerns, and pushed Treasury yields sharply higher, with rate-sensitive stocks absorbing the greatest pressure overall. August inflation data were firmer but not disastrous: headline CPI held at 3.4%, core CPI eased year-over-year, and hot PPI data reflected an energy-driven rebuilding of upstream price pressures again. Markets now assign an 87% probability of a September Fed hike, with the 2-year Treasury yield surging 26 basis points and the 10-year approaching the psychologically important 5% threshold again.













