Interest rate futures swung sharply higher as traders priced out any chance of further rate hikes and foresaw a cut as early as May, with some chance it could come even sooner, in March. "But the relevant question now is: 'Can it get any better?'" "This was – unequivocally – good news on the inflation front," Sam Rines, managing director at research firm CORBU in Texas, said in a note to clients. Overnight the Nasdaq jumped 2.4 per cent, bonds surged and the dollar slumped more than 1.6 per cent on the euro. MSCI's broadest index of Asia-Pacific shares outside Japan was up 1.9 per cent in early trade. Core CPI, at 0.2 per cent, also came in below a forecast of 0.3 per cent. US headline consumer prices were flat in October, against expectations for a 0.1 per cent rise. SINGAPORE: Asian stocks leapt while the dollar was nursing its heaviest losses in a year on Wednesday (Nov 15), as steady US inflation figures boosted investor confidence that the Federal Reserve was done hiking interest rates and may start cutting early next year.
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