Tom Arnold
6 minute read
The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, July 9, 2021. REUTERS/Staff
Summary
U.S. inflation expected at 4.9% in June
German Bund yields hover near 3-month lows
Global asset performance http://tmsnrt.rs/2yaDPgn
LONDON, July 13 (Reuters) - Global shares hung near record highs on Tuesday, buoyed by better than expected Chinese export data as markets awaited the release of U.S. inflation data for further clues about the global economic recovery.
The surprisingly strong Chinese data implied that global demand remained strong and helped reassure investors that the world economy was recovering from the COVID-19 pandemic, despite the spread of the Delta variant. read more
Stocks, debt yields slip on US CPI, poor bond auction Toggle share menu
Advertisement
Stocks, debt yields slip on US CPI, poor bond auction Global share prices slid from record highs on Tuesday after U.S. inflation rose by the most in 13 years in June, driving the dollar up, the yield on benchmark U.S. government debt initially down and stocks on Wall Street to trade near break-even.
FILE PHOTO: A Wall Street sign is pictured outside the New York Stock Exchange amid the coronavirus disease (COVID-19) pandemic in the Manhattan borough of New York City, New York, U.S., April 16, 2021. REUTERS/Carlo Allegri
By Herbert Lash and Tom Arnold NEW YORK/LONDON (Reuters) -Bond yields jumped and global share prices slipped after posting new highs on Tuesday as the biggest hike in U.S. inflation in 13 years rattled investors who fear rising interest rates could end a stock market rally that has doubled prices from 2020 lows. The yield on U.S. Treasury debt initially fell on news the U.S. consumer price index in June jumped 5.4% year over year, the largest gain since August 2008, the Labor Department said. But a weak Treasury auction sparked a 4.7-basis-point jump in the benchmark 10-year note to 1.41% after initially falling to 1.343% after the CPI data was released.
Asia shares track Wall Street higher as investors await earnings
By Julie Zhu
Reuters
HONG KONG (Reuters) - Asian shares climbed in early trade on Tuesday after Wall Street hit record highs overnight, as investors awaited the second-quarter earnings season and a batch of economic data, including key U.S. inflation figures later in the day.
Investors are bracing for an eventful week which will include the start of the U.S. earnings season, inflation data from several countries and a testimony by Federal Reserve Chair Jerome Powell. The testimony will be scrutinised for any clues on the timing of potential U.S. tapering.