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MIB Daily: Three Fed Hawks Back a Hike Over Bessent’s Objection as December Odds Hit 90%, AMD Sinks 8.75% in an AI Hardware De-Rating, and Defensives Lead With Duration Exposed Into the Minutes

Three Fed presidents (Williams, Daly and Logan) backed further tightening as December hike odds hit 90% after October PPI, and Treasury Secretary Bessent publicly pushed back. Chips extended the Nvidia fallout: AMD fell 8.75%, Broadcom dropped 4.87% on a downgrade, and HSBC cut Nvidia to Hold. PPI’s 0.3% headline missed, but prices ex-food, energy and trade jumped 0.5%. The dollar closed at its highest since at least April 15. After the close, the FAA grounded departures nationwide.

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  ANNOUNCEMENT : The next generation WLEI3 had its first out-of-sample update! An auspicious moment for index builders.