Posted 4/9/2024, 10:16:47 AM
Markets Eye Inflation Data and Rate Cuts as Bonds Rebound, BP Surges on Earnings Beat, Metals Hit Multi-Year Highs
- Bonds climbed, recovering some of Monday's slump ahead of US inflation figures that are important for Fed rate cut debate
- Traders preparing for Thursday's ECB rate decision that could support earlier ECB easing bets compared to the Fed
- While markets favor just 2 US rate cuts this year, former Fed president Bullard said 3 cuts remain "base case"
- Analysts said BP earnings update showed strong oil and gas trading performance, sending shares to 5-month high
- Gold hit record high, copper traded near 15-month high on supply tightness and pickup in global manufacturing