chronic concerns about the Fed continuing to hike interest rates, as it battles to crush inflation, had pushed stock benchmarks to fresh lows.
U.S. stock futures on Wednesday showed Wall Street striving to break a 5-day losing streak as bond yields fell ahead of crucial inflation data.
The 10-year Treasury yield TMUBMUSD10Y , which started the year around 1.65% was trading at 3.929%, off 1.6 basis points, on Wednesday as traders awaited U.S. September producer prices data due at 8:30 am Eastern Time, and consumer prices numbers on Thursday at the same time. “The most important economic report this week is the September CPI report. Inflation has proven to be difficult to forecast and given the negative ‘shock’ from the August CPI, it would be difficult for any investor to have conviction going into this report,” Lee added.
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