Premarket: World shares hold firm, traders await inflation data

World shares held near all-time highs on Tuesday and U.S. Treasury yields ticked lower as investors awaited inflation data from both sides of the Atlantic due later in the week.

Most asset classes, outside commodities, have been trading in fairly narrow ranges in recent weeks, with major share benchmarks near record-highs, European bond yields inching higher and the dollar gradually trending weaker against major peers. Markets are currently fully pricing one 25 basis-point Fed rate cut this year, most likely in September or November. They see a one-third chance of a second 25 bps cut by year-end.

MSCI’s world share index was flat on the day, as was Europe’s broad STOXX 600, both near to record-highs hit this month. Britain’s FTSE 100 slid 0.12 per cent, Germany’s DAX advanced 0.36 per cent and France’s CAC 40 gave back 0.17 per cent.

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