Asian shares were sudued on Thursday after global central banks reaffirmed their inflation-fighting resolve.
beat estimates, powered by demand from the booming artificial intelligence and an easing supply glut.said the Fed will likely raise rates further and did not rule out a a hike for July. Notably, he said he did not see inflation abating to the 2% target until 2025.
Indeed, two-year Treasury yields closed at 4.722% after briefly spiking to 4.778%, as bond market continued to cast doubt on Fed's hawkishness of two more hikes. They were little changed on Thursday. /US European Central Bank President Christine Lagarde, on the other hand, cemented expectations for a ninth consecutive rise in euro zone rates in July. Markets have all but priced in two more rate hikes from the ECB this year.said the central bank would see good reason to shift monetary policy if it became "reasonably sure" that inflation would accelerate into 2024 after a period of moderation.
"Markets seem stuck in a holding patterns, watching in awe the inconsistencies between risk sentiment, yield curves, data surprises and inflation," said Mark McCormick, global head of FX and EM Strategy at TD Securities.
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