Bond Yields Weigh on Global Markets Amid Inflation Worries
Global markets were mixed on Wednesday as investors searched for direction amidst persistently high bond yields. Wall Street futures were muted ahead of key inflation data set to be released on Thursday.
The TSX futures were little changed after major North American markets closed lower the previous day. Canadian stock markets will operate normally, but bond markets will be closed tomorrow in observance of the National Day for Truth and Reconciliation.
On Wall Street, investors are closely watching earnings reports from Carnival Corp., Micron Technology Inc., and ConAgra Brands Inc. Ipek Ozkardeskaya, senior analyst at Swissquote, noted that stronger-than-expected inflation figures could further strengthen the U.S. dollar bulls' hand while applying upward pressure on yields.
Commodities were steady, with oil prices fluctuating due to ongoing concerns over supply disruptions in the Middle East.