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Market News Roundup — November 10, 2026 (Evening): US CPI, the Fed and Rubio

Evening roundup for Nov 10: hotter-than-expected US CPI, a December Fed hike fully priced, and Rubio on Ukraine talks, Iran and China.

Published: 1 min read11 views
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Market News Roundup — November 10, 2026 (Evening): US CPI, the Fed and Rubio
Contents
  1. 🇺🇸 US inflation beats forecasts
  2. 🏦 Fed: a December hike is locked in, 50 bp on the table
  3. 🌍 Secretary of State Rubio
  4. Market note

Here are the key economic and geopolitical headlines from Tuesday evening, November 10, 2026, in brief.

🇺🇸 US inflation beats forecasts

US CPI rose 0.4% m/m in October, against a 0.3% forecast and 0.6% previously. Core CPI came in at 0.3% versus 0.2% expected. Supercore (services ex-housing) rose 0.4%, almost unchanged from the prior 0.42%. The BLS did not publish a yearly rate because of the October 2025 government shutdown.

🏦 Fed: a December hike is locked in, 50 bp on the table

After the inflation data, markets still price a 100% probability of a December rate hike. CME FedWatch shows the odds of a 50 bp hike at about 10%, and rising.

🌍 Secretary of State Rubio

  • Russia–Ukraine: Rubio said the Abu Dhabi talks on the war in Ukraine were "very productive."
  • Iran: He said economic pressure on Iran will be stepped up further.
  • China: He said AI should be one of the topics at the upcoming Trump–Xi meeting. Trump also wants US–China talks on nuclear weapons.

Market note

Sticky inflation and the prospect of a more aggressive Fed keep the dollar and Treasury yields in focus. Positive headlines from the Ukraine talks could trim part of the geopolitical risk premium in gold and oil.

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Sources: US Bureau of Labor Statistics (BLS); CME FedWatch; remarks by the US Secretary of State (U.S. Department of State)

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