WASHINGTON, April 13 — Global equities reversed earlier gains yesterday, while US Treasury yields slipped as data showing a jump in US inflation was in line with expectations gave investors some relief.
“Market has been picking up today on the fact that the CPI was a bit softer than expected... Anything that indicates a softening momentum on the inflation front is going to mean that the Fed perhaps may not have to go as aggressively in tightening monetary policy.” While US 10-year Treasury yields pulled back from their highs, they are up almost 45 basis points so far this month.
Investors also await today's first-quarter earnings season for big banks, many of which are expected to report a sharp decline in earnings from a year earlier, according to analysts, who noted many lenders benefited from exceptionally strong deal-making, trading and funds set aside for loan losses being released.The dollar index, a measure of the greenback’s value against six peers, rose 0.26 per cent, after earlier in the week touching its highest level in almost two years.
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