U.S. Treasury yields inched higher on Wednesday as markets absorbed wholesale inflation data and awaited the release of retail sales data for October.
Yields and prices move in opposite directions and one basis point equals 0.01%.throughout the month. Markets broadly took this as a sign that inflation is indeed easing, as suggested by last week's consumer price index figures.
Many investors are hopeful that the data will prompt the Federal Reserve to slow interest rate hikes, which the central bank has been using as a tool to fight persistently high inflation. The pace of rate hikes has raised concerns about the Fed leading the U.S. economy into a recession. A series of Fed speakers are due to make remarks this week, which traders will be scanning for hints about policy plans.
Retail sales data for October is due to be released on Wednesday and will provide insights into the state of the U.S. economy and the impact of inflation on consumer demand.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
China’s October Retail Sales and Industrial Output disappointChina’s October Retail Sales YoY, declined sharply to -0.5% vs. 1.0% expected and 2.5% previous while Industrial Production YoY came in at 5.0% and 5.
Read more »
Wholesale inflation eases to 8% in October in good sign for FedExcluding the volatile food and energy categories, core producer prices were unchanged in October from September, the lowest reading in nearly two years.
Read more »
Kia EV6 Wholesale Shipments In October 2022: Roughly 6,500Last month, Kia EV6 wholesale sales (closely related to production) amounted to 6,518 units, including 2,175 in South Korea and 4,343 exported.
Read more »
Taylor Swift fans crash Ticketmaster site, Capital One Cardholder Presale rescheduled to WednesdayThe crush of fans flocking to Ticketmaster to try to nab presale tickets for Taylor Swift’s upcoming 2023 “Eras Tour” in the U.S. caused the site to become inaccessible for thousands on Tuesday morning.
Read more »
Earth had its 4th-warmest October on record(5 of 5) Significant Climate Events Map: October had the sixth-highest of named storms since 1981 — 15 named storms formed globally in October. See more: NOAANCEI StateOfClimate
Read more »
Bus carrying immigrants from Texas to arrive in Philly on WednesdayPhiladelphia officials and immigrant-assistance groups are preparing to welcome a bus of 38 migrants to the city early Wednesday morning. The migrants, originally from Central and South America, have been sent from Texas by Gov. Greg Abbott.
Read more »