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NEW YORK (Reuters) -A gauge of global equity markets rose to record highs on Tuesday, led by surging technology-related stocks, as Treasury bond yields eased after U.S. consumer price data for March showed the pace of inflation was not rising wildly.
FILE PHOTO: A nearly empty trading floor is seen at the New York Stock Exchange (NYSE) in New York, U.S., May 22, 2020. REUTERS/Brendan McDermid
The consumer price index rose 0.6%, the biggest increase since August 2012, as rising vaccinations and fiscal stimulus unleashed pent-up demand. But the data is unlikely to change Federal Reserve Chair Jerome Powell’s view that higher inflation in coming months will be transitory.
FOREX-Dollar dips before consumer price inflation data Reuters 1 hr ago By Karen Brettell Graphic: World FX rates https://tmsnrt.rs/2RBWI5E (Adds Treasury auction results, comments from Fed s Rosengren, updates prices) By Karen Brettell NEW YORK, April 12 (Reuters) - The dollar dipped slightly on Monday as traders awaited highly anticipated U.S. inflation and retail sales data in coming days, and as the Treasury Department saw solid demand for new sales of three-year and 10-year notes. The dollar has rebounded this year as U.S. Treasury yields rise on expectations of faster economic growth and higher inflation. U.S. consumer price data for March due on Tuesday is a major economic focus. Investors are betting that price pressures will increase due to increased fiscal and monetary stimulus and as businesses reopen from COVID-19 related closures. Comparisons with last year are also likely to be strong, due to a drop in inflation a year ago when bus
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