© Reuters. FILE PHOTO: The Wall Street sign is pictured at the New York Stock exchange (NYSE) in the Manhattan borough of New York City, New York, U.S., March 9, 2020. REUTERS/Carlo Allegri
A look at the day ahead in U.S. and global markets from Mike Dolan
With the more substantive of Federal Reserve Chair Jerome Powell’s two appearances this week still to come, markets have stalled as the week’s surprising plunge in oil prices and bond yields levelled off.
A fresh fall in China’s consumer prices stoked deflationary fears there again and the global economic demand picture is starting to drag on commodity prices everywhere and is helping to defuse October’s blistering spike in long-term borrowing rates.
The supply picture for , which is now down more than 20% from late September’s peaks, has also weighed on energy prices.
Crude inventories increased by 11.9 million barrels over the week to Nov. 3, sources said, citing American Petroleum Institute figures. If confirmed, this would represent the biggest weekly build since February.
With the energy price drop improving the inflation picture, it has helped drag 10-year Treasury yields back down to their lowest since Sept….
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