Global stocks hover around record highs
Yields and dollar weaker
Falling yields dragged the dollar lower ahead of tomorrow’s US report, a possible leading indicator on the path of interest rates. Futures on the , , and wavered in pre-US open trading on Wednesday as markets tread water ahead of the key economic indicator.
Oil demand improves, pushing prices nearer to 3-year highs.
Global Financial Affairs
US futures and European stocks, including the were in a holding pattern, with traders fingers hovering above order buttons.
Yields on the Treasury fell sharply toward the 1.5% mark.
A report showing rising inflation may be the last straw before rates complete a bearish pattern—a Descending Triangle, whose implied implication is a drop of 30 basis points to retest 1.20%.
The fell on pessimism, as traders watched falling yields scream rising inflation, which would weaken the American currency’s buying power.
Although the Fed...read more...