Oil prices soar as US CPI comes in
By 26 Nov,2021
The US dollar shuddered lower on Tuesday as gold prices rose and US equities retreated; oil prices rose sharply on the back of the US not releasing crude oil reserves. Today's focus is on US CPI data and EIA crude oil inventory data.
[Warm Up - Overnight Market Review
Global bond markets: US bond real yields fell sharply on Tuesday as traders bought inflation-protected bonds to hedge against the risk of rising prices, and they also bought conventional bonds as a low-risk investment. The US two-year Treasury yield fell 2.1 basis points to 0.4248%, while the US 10-year Treasury yield fell 6.3 basis points to 1.4341% and the Chinese 10-year Treasury yield rose 1.2 basis points to 2.917%.
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