Market Bizzz

The two tranches of PFC’s bonds include a three-year-and-four-month debt sale with a base size of ₹500 crore and a greenshoe of ₹2,500 crore and a 10-year bond sale with the same base size and greenshoe amounts.

Gold prices jumped more than 1% on Wednesday after data showed the U.S. Consumer Price Index rose 0.1% last month versus expectations of a 0.2% rise, after advancing 0.4% in February.

The Consumer Price Index climbed 0.1% last month after advancing 0.4% in February, with a decline in gasoline prices offset by higher rental costs. Economists polled by Reuters had forecast the CPI gaining 0.2% in March.

The U.S. Consumer Price Index (CPI) climbed 0.1% last month, below economists’ expectations for a 0.2% gain, and down from a 0.4% increase in February, raising expectations that the Fed is likely to stop hiking rates after a possible increase in May.

Recent inflation readings “show that disinflation is proceeding slowly – which is disappointing, to say the least,” Harker said. The Fed targets 2% inflation which, by its preferred measure, is still running at about 5%.

China shares were mixed at the open, with the Shanghai Composite Index up 0.1% while Hong Kong’s Hang Seng Index lost 0.02%. Data on Tuesday showed China’s consumer inflation in March was at its slowest since September 2021.

“In our view, equity downside will be driven by worsening economic conditions, a function of: aggressive monetary policy; potential capital/liquidity issues catalyzed by the bank crisis; and a consumer that is increasingly reliant upon credit to sustain spending,” Harvey and his team of strategists said in a note to clients Tuesday.