U.S. stocks dip as inflation risk fans policy bets; USD pauses rally



* U.S. stocks fall on higher-than-expected Sept inflation data

* Oil drops from Monday's multi-year highs

* Dollar dips from Tuesday's one-year high

* U.S., German bond yields edge off highs

By Koh Gui Qing

NEW YORK, Oct 13 (Reuters) - U.S. stocks fell on Wednesday and two-year Treasury yields clung to 18-month highs after data showed inflation ran faster than expected in September, cementing bets that policy tightening by the Federal Reserve is in the offing.

Figures showed the U.S. consumer price index rose 0.4% last month, higher than an expected 0.3%, as Americans paid more for food, rent and a range of other goods, and highlighting the challenges of strained supply chains.

"Persistent inflation suggests we remain in a hot economy, which could prompt the Fed to move sooner," analysts from Bank of America said in a note.

Concerns that an end to the Fed's ultra-loose monetary conditions would undercut support for equities dragged on U.S. shares despite gains in technology stocks, and an encouraging earnings report from JPMorgan Chase & Co JPM.N .

The largest U.S. bank reported third-quarter earnings on Wednesday that beat estimates, thanks to record revenue in some investment banking business and a sunnier economic outlook that allowed it to release money set aside for potential loan losses. JPMorgan stock was down 2.4% by midday.

The Dow Jones Industrial Average .DJI fell 0.25%, the S&P 500 .SPX edged down 0.02%, while the Nasdaq Composite .IXIC added 0.37%.

The pan-European STOXX 600 index .STOXX rose 0.70% and MSCI's gauge of stocks across the globe .MIWD00000PUS gained 0.30%.

Bets on tighter monetary policy flattened the U.S. yield curve.

The two-year Treasury yield US2YT=RR jumped as high to 0.394%, a level last seen since March 2020, before receding to 0.36%. Benchmark 10-year yields US10YT=RR declined to 1.5525%, from 1.58% late on Tuesday.

That left the spread between 10-year and two-year Treasury yields at around 118 basis points, the lowest in over two weeks.

The dollar, which has benefited from bets that tighter U.S. monetary policy would burnish its appeal as a higher-yielding currency, took a breather on Wednesday.

The dollar index =USD fell 0.42% to 94.126 from a one-year high of 94.563 struck the previous day. A softer dollar helped the euro EUR= to jump 0.45% off a near 15-month low to $1.15815.

The Japanese yen JPY=D3 , which has hovered at a three-year low against the dollar, also bounced back, rising 0.18% to 113.38 per dollar.

Oil prices, which have been on a tear, also paused their rally, as some investors questioned whether inflation and other supply chain issues will crimp economic growth and ultimately energy demand.

However, analysts at JPMorgan argued on Wednesday that concerns of accelerating inflation retarding economic growth, and resulting in stagflation, were "overblown."

"Historically, equity markets did well in periods of oil price increases, in particular those periods that followed a crisis," the analysts said. They recommended that investors allocate more cash to shares in the energy, materials, industrial and financial sectors relative to other investments.

U.S. crude CLc1 fell 0.14% to $80.53 per barrel and Brent LCOc1 was at $83.24, down 0.22% on the day.

Gold, usually seen as a hedge against inflation, shone.

Spot gold XAU= added 1.9% to $1,793.97 an ounce. U.S. gold futures GCc1 gained 1.98% to $1,793.10 an ounce.



World FX rates YTD Link
Global asset performance Link
Asian stock markets Link



Additional reporting by Alun John in Hong Kong and Sujata Rao
in London; Editing by Jonathan Oatis and Nick Zieminski



免責聲明: XM Group提供線上交易平台的登入和執行服務,允許個人查看和/或使用網站所提供的內容,但不進行任何更改或擴展其服務和訪問權限,並受以下條款與條例約束:(i)條款與條例;(ii)風險提示;(iii)完全免責聲明。網站內部所提供的所有資訊,僅限於一般資訊用途。請注意,我們所有的線上交易平台內容並不構成,也不被視為進入金融市場交易的邀約或邀請 。金融市場交易會對您的投資帶來重大風險。

所有缐上交易平台所發佈的資料,僅適用於教育/資訊類用途,不包含也不應被視爲適用於金融、投資稅或交易相關諮詢和建議,或是交易價格紀錄,或是任何金融商品或非應邀途徑的金融相關優惠的交易邀約或邀請。

本網站的所有XM和第三方所提供的内容,包括意見、新聞、研究、分析、價格其他資訊和第三方網站鏈接,皆爲‘按原狀’,並作爲一般市場評論所提供,而非投資建議。請理解和接受,所有被歸類為投資研究範圍的相關内容,並非爲了促進投資研究獨立性,而根據法律要求所編寫,而是被視爲符合營銷傳播相關法律與法規所編寫的内容。請確保您已詳讀並完全理解我們的非獨立投資研究提示和風險提示資訊,相關詳情請點擊 這裡查看。

我們運用 cookies 提供您最佳之網頁使用經驗。更改您的cookie 設定跟詳情。

風險提示: 您的資金存在風險。杠杆商品可能不適合所有客戶。 請詳細閱讀我們的風險聲明