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【$SOL Falls Below 100, PPI Delivers an "Unfavorable" Answer】 We've been following the main storyline of "PPI today, CPI tomorrow, FOMC next week" these past few days. Today, the PPI was released — and the result wasn't great. August PPI rose 5.4% year-over-year, slightly higher than expected. The market reacted immediately: the probability of a 25 basis point rate hike in September jumped from 62% to 74% in one day, and the chance of at least one rate hike in October surged to 82%. SOL dropped from 105.15 to 98.30, breaking the psychological $100 mark, essentially pricing in this "unexpectedly hot" inflation data. What's even more notable is oil prices — Brent crude broke through $105 today, surpassing the $99 level we discussed a few days ago, indicating that inflationary pressure from the Middle East situation is still brewing rather than being a short-term fluctuation. The market's focus has now shifted to today's later CPI release — the last major inflation report before the Federal Reserve's policy meeting. If CPI also comes in hotter like PPI, the probability of rate hikes could rise further, and risk assets will likely continue to digest this pressure; but if CPI unexpectedly cools down, a retaliatory rebound is not out of the question. The triple test has passed two stages; today's remaining CPI is the final card that will truly determine the direction for the coming week. DYOR, this is not investment advice. #PPI、CPI接连公布，美联储迎关键两日