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.
Nigeria Nigeria Latest News, Nigeria Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: malaymail - 🏆 1. / 86 Read more »