Bond investors are awaiting the U.S. November consumer-price index report on Friday and a Federal Reserve policy meeting next week.
Despite the moves in stocks, yields for debt are still comparatively low historically ahead of a report on consumer inflation on Friday, which could provide the spark for a fresh move in fixed income. On Wednesday, equity markets got a boost from a report from Pfizer Inc. PFE and BioNTech SE, which said results from an “initial laboratory study”showed that their COVID-19 vaccine neutralized the omicron variant after three doses, or the full two-dose regimen plus a booster shot. Still, Pfizer said it was working on a booster to combat omicron.
An updated reading of wholesale inventories for October is slated for 10 a.m., with economists on average estimating a rise of 2.1%, compared with a prior reading of 1.4%.