Markets Today: A welcome relief

From business.nab.com.au

It has been a super risk positive night courtesy of a big downward surprise in the US CPI release. US equities have surged with S&P 500 north of 4.5%, UST yields are sharply lower with the 5y tenor leading the decline and the USD is weaker across the board with JPY, GBP and AUD leading the charge. AUD starts the new day just above 66c. The CPI rose “only” 0.4% in October taking the yoy reading to 7.7%, below the 7.9% pencilled in by consensus. Excluding food and energy, the so-called Core CPI reading was just 0.272% well below the 0.5% expected, helping the yoy reading down to 6.3% vs 6.5% expected . Core CPI ... (full story)