Wed prep 14 Oct: CPI 13:30 London (headline ~3.6% / core ~2.5%) + BAC/MS/BLK BMO — Beige Book tonight

[LondonNewsTrader]

Morning from London. The day is stacked: mega-cap finance prints before the US open, then the last CPI before the Oct 28 FOMC.

Key times (London / New York):
- BlackRock, Bank of America, Morgan Stanley — Q3 before the cash open (BLK call ~12:30 / 07:30, BAC ~13:30 / 08:30)
- September CPI — 13:30 / 08:30
- Headline: ~0.6% m/m, ~3.6% y/y (from 0.4% / 3.4%)
- Core: ~0.2% m/m, ~2.4–2.5% y/y (street split on the annual)
- Anthropic Investor Day ~17:00 / 12:00 — AI sentiment risk into the afternoon
- Fed Barkin ~20:30 / 15:30; Beige Book ~21:00 / 16:00

Consensus framing (Dow Jones / WSJ / TD Economics tables): energy is expected to lift the headline while core cools sequentially. Markets are still pricing roughly an ~80% chance of a Fed hold on 28 Oct — a hot core print is the one that can reopen hike talk.

Also on the desk into the open:
- ASML already printed overnight (separate thread) — semis soft into the mixed equipment read
- BAC goes into its call with a fresh $1.2B FinCEN/Treasury BSA hit (separate thread)
- Brent back above ~$106 on Middle East / Houthi risk

Trading plan for me: let the 9:30–9:45 range form after the CPI/bank noise. I am not fading the first tick on CPI unless the core vs headline split is extreme and the book is one-sided.

Sources: [CNBC CPI preview](https://www.cnbc.com/2026/10/13/septemb ... ation.html) | [XTB morning wrap 14 Oct](https://www.xtb.com/en/market-analysis/ ... 14-10-2026) | [MarketBeat BAC/BLK calendars](https://www.marketbeat.com/earnings/rep ... -co-stock/)

Are you trading CPI on the print, or waiting for the 5–15 minute settle? And does anyone size BAC/MS differently today because of the fine hanging over the call?