A look at the day ahead in U.S. and global markets from Mike Dolan
Wall St stocks have held up remarkably well in the face of the renewed interest rate angst of the past week but Wednesday’s March inflation readout may now be make or break from here.
A late bounce for the S&P500 on Tuesday saw the index close in positive territory and stock futures tick higher ahead of the consumer price report later today.
For all the worries about the stubborn ‘last mile’ of the disinflation process, consensus forecasts would suggest the market calm is warranted for now. The core annual CPI rate is expected to have ticked a tenth of a percentage point lower to 3.7% last month even if headline rates likely picked up steam.
The restive Treasury market has also steadied into the critical release, despite a poor 3-year auction on Tuesday and with $39 billion of 10-year notes going under the hammer…
