US retail sales smash expectations to surge above pre-pandemic levels cityam.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from cityam.com Daily Mail and Mail on Sunday newspapers.
A highly-anticipated report released by the US Labour Department on Thursday showed that consumer prices increased by more than expected in May, as pent-up dema
Shares in China opened in the red, with the blue-chip index off 0.2%.
Australian stocks slipped 0.6% while South Korea s KOSPI index skidded 0.7%. Japan s Nikkei reversed early gains to be down 0.4%.
Analysts, however, doubted the sell-off would extend much further in a world of easy accommodative policy and fiscal largesse.
All eyes are now on the US consumer price index report to be released by the US Labour Department on Wednesday with market-based measures of inflation expectations having moved higher .
Treasury yields have remained stuck to a tight range. The yield on benchmark 10-year Treasuries edged lower to1.6235%, a far cry from the 2% level seen in before thecoronavirus pandemic.
Wednesday, 12 May 2021 12:43 PM MYT
Analysts said a combination of inflation fears and some investors cutting their exposure to over-stretched stocks or sectors was behind the recent downturn. Reuters pic
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SYDNEY, May 12 An extended sell-off drove Asian shares to their lowest in seven weeks on Wednesday as surging commodity prices and growing inflationary pressure in the United States prompted markets to bet on earlier rate hikes and higher bond yields globally.
MSCI’s broadest index of Asia-Pacific shares outside Japan slumped 1.5 per cent, adding to Tuesday’s 1.6 per cent loss with all major indices under heavy selling pressure
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Latest News: Biden Cites COVID For Unemployment; Mayawati Slams Govt; Tamil Nadu Lockdown
US President says COVID-19 pandemic still weighing on jobs as cause of unemployment, Mayawati slams Delhi CM Kejriwal and others; read latest news.
Joe Biden Cites COVID As Reason For Looming Unemployment Crisis In The Country
The US Labour Department on Friday reported that the American economy added only 2,66,000 jobs- way below the one million jobs as expected by economists while the unemployment rate rose to 6.1 percent. US Secretary of Labour Marty Walsh also pointed to data from the jobs report showing that more Americans looked for work in April than in previous months.Walsh reminded that the COVID-19 pandemic still weighing on jobs but he projected optimism about the recovery of the US economy as vaccination drive is boosted saying, “We are starting to see the confidence come back.” He also said,