Global shares hover near record high, dollar steadies ahead of U.S. inflation data
Global shares sat near their highest levels, and the dollar steadied on Thursday as investors highly anticipate U.S. inflation data to get hints for the Federal Reserve‘s next policy move.
U.S. stock futures pointed to a mixed open on Wall Street, with the S&P called flat and Nasdaq down 0.3%. In Europe, the pan-regional STOXX Europe 600 index slipped 0.3%. In Asia, MSCI’s broadest index of Asia-Pacific shares outside Japan advanced 0.5%.
The yield on benchmark 10-year U.S. Treasury notes increased and closed at 1.5025%.
As the Fed and the ECB express their willingness to keep the monetary taps on until the post-pandemic recovery takes hold, with the belief that inflationary pressures are temporary, risk assets have remained buoyant in recent weeks.
The European Central Bank is set to keep rates steady when it convenes later, despite the most recent inflation print passing the target of just under 2%.