Oil prices held near multi-year highs on Monday, underpinned by an improved outlook for demand as increased COVID-19 vaccinations help lift travel curbs.
Global shares held firm near record highs on Monday while U.S. bond yields flirted with three-month lows as investors expect the Federal Reserve to stick to its dovish mantra later this week.
Gold held an advance as some investors deemed that the slightly faster-than-expected rise in U.S. inflation is likely to be transitory, keeping ongoing central-bank support intact.
After a week of anxious waiting, markets got the high U.S. inflation number they dreaded, shrugged it off and moved on – leaving the U.S. dollar under pressure and most majors stuck in ranges.
Oil prices slipped on Friday but were set for their third weekly rise on expectations for a recovery in fuel demand in Europe, China and the United States as rising vaccination rates lead to an easing of pandemic curbs.
The S&P 500 closed at record highs Thursday, shrugging off the hottest pace of inflation in decades as Treasury yields slipped on signs bond bears are caving in on bets against the Federal Reserve.