#美国经济状况# The PPI data for July in the U.S. shows that inflationary pressures are still ongoing, with a year-on-year increase of 3.3%, setting a new three-year high. This data far exceeds expectations, reflecting the impact of Trump's tariff policy on the economy is becoming apparent. It is noteworthy that the core PPI, excluding food, energy, and trade services, increased by 2.8% year-on-year, indicating that inflationary pressures have begun to spread to a broader range of areas.

From the data performance perspective, the significant rise in service costs is the main factor driving up the PPI. This may be transmitted to the CPI, thereby affecting the Fed's monetary policy decisions. The market reaction is also quite evident, with US Treasury yields and the dollar both rising, indicating that investors have adjusted their inflation expectations.

For investors, it is important to closely monitor subsequent inflation data and the Fed's policy direction. If inflation continues to exceed expectations, it may accelerate the Fed's tightening of monetary policy, thereby affecting the pricing and trends of various assets. It is recommended to pay special attention to asset allocation opportunities related to inflation, while being wary of the market volatility risks that may arise from policy adjustments.