But U.S. equity futures fell sharply as European banking stocks tumbled in an ominous sign for the Wall Street open.that private equity and buyout giants were looking to scoop up some of SVB's assets. That left investors hopeful that efforts to shore up confidence would avert a wider financial crisis.Data on Tuesday showed U.S. consumer prices rose 0.4%, with a year-on-year gain of 6% - in line with analyst expectations.
Also helping boost sentiment was data showing China's economic activity picked up in the first two months of the year, driven by consumption and infrastructure investment, and signs the beleaguered property sector isIn Europe, where markets had also rapidly dialled back ECB rate-hike bets at the start of the week, traders were betting again on a big increase in euro zone borrowing costs on Thursday.
"The ECB is behind in terms of a tightening cycle and has a lot to do," said Jorge Garayo, senior rates and inflation strategist at Societe Generale.