Global stocks waver near record highs with US inflation data in focus, as bitcoin rebounds from its 10% slump

SourceBusiness Insider
SectorFinancial Markets
CountryMiddle east

Global stocks steadied around their all-time highs on Wednesday after a helped drive a major rally in sovereign bonds. Futures on the , , and were mostly in the green, suggesting a higher start to trading later in the day. US indices have proven unwilling to stray from their current levels in the last few days, said Connor Campbell, a financial analyst at SpreadEx.

“Perhaps investors are waiting until tomorrow’s inflation data is revealed,” he said. Investors are awaiting the US consumer price index for May, due to be released Thursday, as they assess whether rising inflation may nudge the Federal Reserve into rolling back its ultra-easy monetary policy. According to Dow Jones, economists expect the figure to rise 4.7% year-on-year. The yield on the 10-year US Treasury note fell to its lowest level in almost three months, by 2% to 1.52%, suggesting an increase in demand for bonds. UBS said concerns that US GDP growth is close to a...read more...