Strong corporate profits have eased concerns over the COVID-19 pandemic.
Global shares rode earnings to a record high on Wednesday, while the dollar and Treasury yields languished in the wait for US employment data to provide clues to the pace of monetary tightening in the world’s biggest economy.
Strong corporate profits have eased concerns over the COVID-19 pandemic, as vaccine roll-outs continue apace in developed markets, despite a resurgence of cases in Asian countries including China.
While that has helped buoy equities, inflationary pressures and a growing belief the US Federal Reserve may soon signal its intention to trim support to the economy continue to cause a tussle with the bond market over mid-term direction.
“Macro data is coming at high expansionary levels but currently all the market is seeing is peak data. It wants to know what’s going…