CSOP USD Money Market Fund Wrap- 20220815

- US inflation decelerated in July by more than expected, reflecting lower energy prices, which may take some pressure off the Federal Reserve to continue aggressively hiking interest rates.

- But a softer-than-expected July CPI print is not enough for the Federal Reserve to step back from its fight against inflation. Fedofficials have said theywant to see months of evidence that prices are cooling, especially in the core gauge. They'll have another round of monthly CPI and jobs reports before their next policy meeting on Sep 20-21.

- Retail sales data (Aug 17) may bring some clarity this week, revealing the extent to which ebbing inflation is helping consumers.Also, the Fed is scheduled to release the minutes of its July 27 meeting (Aug 18).

- While front-end US rates volatility has plunged after last week's CPI, the short-tenor yields remain relatively high and CSOP USD Money Market Fund (AUM US$106.4mn) managed to further enhance its gross yield to 2.52% and 7-day net yield to 2.38%* as of last Friday.


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