Today's homework is a bit tricky, mainly because the PPI issue has led to uncertainty in the market regarding a rate cut in September. Previously, under the remarks from Berenberg, the market was not only convinced that the Fed would cut rates in September, but some investors even believed that a 50 basis point cut was possible. However, today's PPI data from the Labor Statistics Bureau has significantly raised inflation, making it a gamble even for a 25 basis point cut, let alone a 50 basis point cut.

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