US inflation data just came in for November, and the producer price picture is shifting. Month-over-month PPI held steady at 0.2%, matching expectations, but the year-over-year figure climbed to 3.0%—marking the highest read since July and beating forecasts of 2.7%.

That YoY surprise carries weight in the crypto space. Persistent producer-level inflation can influence Fed policy expectations and bond yields, both of which traders monitor closely when positioning their portfolios. With PPI cooling less than anticipated, market participants are recalibrating their outlook on rate trajectory and macro headwinds. Watch for how equities and digital assets react to this inflation signal in the sessions ahead.