Business Maverick: Stocks Roar as Wall Street Cheers CPI Surprise: Markets Wrap

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Stocks surged and bond yields sank as softer-than-expected inflation data fueled bets the Federal Reserve could pivot to a smaller pace of hikes -- a view taken with a grain of salt by market watchers saying officials may still be a long ways from ...

Traders went risk-on Wednesday, with the S&P 500 on pace for its highest level since May. A surge in the Nasdaq 100 drove the tech-heavy gauge 20% above its June low.

The Cboe Volatility Index slumped below 20, a level last seen in April. The dollar fell against all of its Group-of-10 peers. Short-dated Treasury yields led the slide, with the two-year rate at one stage plummeting nearly 20 basis points to 3.07%.

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