CSOP USD Money Market Fund Wrap – 20230911

Last week’s rally in oil prices and encouraging US economic data, such as solid jobless claims had also supported the case for elevated rates.

However, the upcoming Aug’s CPI report scheduled for Sep 13, is expected to present a mixed picture. Bloomberg Economics predicts headline CPI to accelerate to 0.6% MoM / 3.6% YoY (vs. 0.2% MoM / 3.2% MoM in Jul) on higher gasoline prices, while core CPI to accelerate 0.2% MoM / 4.3% YoY (vs 0.2% MoM / 4.7% YoY in Jul). On an annualized basis, core CPI is consistent with 2% inflation target.

Source: CSOP, Bloomberg, Bureau of Labor Statistics as of 20230908. ^ Gross yield is based on annualized yield of underlying holdings. 7-day net yield is calculated based on calendar days and NAVs in 5-decimal.

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