Strong PPI data complicates the Federal Reserve's interest rate cut path

```htmlGolden Ten Data reported on May 13 that, according to CME "FedWatch", the market has now priced in an over 30% probability of a rate hike before December. After the unexpectedly strong US April PPI data, the market believes it is almost even harder for the Federal Reserve to justify any rate cuts this year. April PPI increased by 1.4%, significantly higher than economists' consensus forecast of 0.5%, indicating stronger-than-expected inflationary pressure and reinforcing the trend of the market repricing the rate trajectory.```