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SOFR Put Sales Surge After CPI, PPI Misses

7/18/2026

29 5 Full Breakdown

Summary

Story summary

U.S. traders sold SOFR put options after Tuesday’s CPI missed forecasts.
Wednesday’s PPI also missed, cutting Federal Reserve (Fed) hike expectations to about 40% of a July increase and about 13% of a quarter-point hike.
Natixis chief economist Christopher Hodge said hikes are not a foregone conclusion, with swaps pricing about 16% of a quarter-point hike for the July 29 meeting.

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Story summary

U.S. traders sold SOFR put options after Tuesday’s CPI missed forecasts.
Wednesday’s PPI also missed, cutting Federal Reserve (Fed) hike expectations to about 40% of a July increase and about 13% of a quarter-point hike.
Natixis chief economist Christopher Hodge said hikes are not a foregone conclusion, with swaps pricing about 16% of a quarter-point hike for the July 29 meeting.