WASHINGTON (Reuters) -Global equities reversed earlier gains on Tuesday, while U.S. Treasury yields slipped as data showing a jump in U.S. inflation was in line with expectations gave investors some relief.
The U.S. consumer price index rose 1.2% last month, the biggest increase in 16-1/2 years and cementing the case for a 50 basis points interest rate hike from the Federal Reserve next month.
However, the benchmark 10-year Treasury yield was last down 6.1 basis points to 2.721%, its first decline in eight sessions, as the inflation number had been priced in and also reflecting the market’s unease that an aggressive policy response to inflation from the Federal Reserve could undermine…
You can Read this Complete Story at: Source Link
Dow Today, Dow Jones Today