Posted 11/15/2023, 6:01:49 AM
Stocks Surge, Yields Plunge as Cool US Inflation Spurs Rate Cut Hopes
- Asian stocks jump on hopes of China stimulus and end to US rate hikes after inflation data
- US CPI flat in October vs expected 0.1% rise; Core CPI 0.2% vs 0.3% forecast
- Fed funds futures now price in rate cuts by May after data
- Chinese industrial output, retail sales data beat forecasts
- Report China to provide $137 bln to support housing market
- Yen drops to 16-year low vs euro; Aussie, kiwi rally over 2% against dollar
- Nasdaq surges 2.4%, Russell 2000 leaps 5% after inflation data
- Bond yields tumble globally, futures price in US rate cut as soon as May