U.S. core CPI climbs 0.3% in August, topping estimates; markets price in near-certain Fed hike next week

U.S. core CPI at 0.3% MoM above consensus signals stickier inflation and strengthens expectations for a near-term Fed hike. The jump in 2-year Treasury yields tightens financial conditions and pressures duration-sensitive and liquidity-dependent assets. Crypto is reacting immediately, with BTC dipping as higher real rates and a firmer policy path raise discount rates and curb risk appetite in the short term.