LONDON: Global stock markets pushed to record highs on Wednesday as bond yields eased, after data showed US inflation was not rising too fast as the economy re-opens.
In the 12 months through March, the CPI surged 2.6%. That was the largest gain since August 2018 and followed a 1.7% increase in February. “People are now waiting for earning season, which should give us more visibility on the outlook and whether the significant market performance we’ve seen is logical and sustainable,” he said.Deutsche Bank’s equity strategists expects S&P 500 earnings to come in 7.5% above consensus, well above the historical average of 4% but lower than in the previous three quarters.For bond markets, the question is whether the benchmark yield can break below 1.6% from as low as 1.
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