🚨JUST OUT: 6.5% U.S. PPI comes in BELOW the 6.6% forecast, but rises from 6.3% previously. October wholesale inflation was softer than expected, offering some relief after Tuesday’s hotter-than-expected CPI. Since Tuesday’s CPI, the odds of a 25 bps hike at December’s Fed meeting have risen from 76% to 89%. The softer reading could ease concerns over a larger 50 bps hike, offering support for stocks and Bitcoin.