All You Need To Know Going Into Trade On June 11
Asian stocks were steady early Friday after U.S. shares and Treasuries rallied as investors judged that a jump in inflation is likely to be transitory, leaving scope for ongoing central-bank support.
Japanese shares fluctuated, South Korea rose and Australia slipped. The Singapore-traded SGX Nifty, an early indicator of India's Nifty 50 Index’s performance, was little changed at 15,776 as of 7 a.m.
The S&P 500 Index climbed to a record overnight, while a technology rally boosted the Nasdaq 100. U.S. equity contracts were little changed.
The 10-year U.S. Treasury yield held most of an earlier drop to 1.43%, its lowest point since March. The yield declined after a brief jump on above-forecast gains in U.S. consumer prices. The dollar retreated.
The CPI increase in May was driven largely by categories associated with a broader reopening of the economy, as vaccinations bring the pandemic under control. Despite some signs of wider price pressures, concerns about a spike in longer-term borrowing costs that could destabilise global markets have eased.
Elsewhere, crude oil pared a rally while staying above $70 a barrel. A …
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