GLOBAL MARKETS-Stocks rally, dollar stable after jump in U.S. CPI data
Global stocks surged and the dollar held steady on Thursday as investors took in their stride a spike in U.S. inflation that was higher than expected but not big enough to shake the Federal Reserve's stance that rising consumer prices will be transitory. MSCI's all-country world index surged to a record intra-day high after the U.S. Labor Department earlier said the consumer price index in the 12 months through May accelerated 5.0%, the biggest year-on-year increase since August 2008. The benchmark 10-year U.S. Treasury yield rose 3.0 basis points to 1.5194% after the data's release, while the dollar index was essentially flat, down 0.08%.
Published:6/10/2021 9:11:38 AM