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Market Review

US:

The US market broadly saw gains on Wednesday as a softer inflation data eased fears of a likely recession.

Asia:

Stocks in the Asia Pacific region rose on Thursday after soft US inflation print helped the Wall Street snap two days of heavy losses.

India:

India's benchmark equity indices ended Wednesday's session lower, with the Nifty ending in the red and the Sensex extending its decline for the third day. Market is expected to open on a positive note and likely to witness positive move during the day.

Global economy:

The Bank of Canada considered leaving its key policy rate at 3% ahead of a scheduled announcement before concluding it needed to cut for the seventh consecutive time, Governor Tiff Macklem said in an interview on Wednesday. The central bank trimmed its key policy rate by 25 basis points to 2.75% and raised concerns about inflationary pressures and weaker growth stemming from trade uncertainty and President Donald Trump’s tariffs. The spreads between the yields on corporate bonds and U.S. Treasuries hit their widest since September this week, pointing to mounting investor worries about recession and a global trade war. U.S. investment-grade bond spreads hit 94 basis points on Tuesday, their widest level since Sept. 18, according to the ICE BofA Corporate Index. Junk bond spreads widened to 322 bps, also their widest since Sept. 18, according to Tuesday’s late update of the ICE BofA High Yield Bond Index.

Commodities:

Oil prices eased on Thursday after surging the day before as worries about the impact of intensifying tariff wars on global economic growth and energy demand outweighed the positive sentiment from a larger-than-expected draw in U.S. gasoline stocks. Gold prices edged higher on Thursday as uncertainty over tariffs persisted, driving safe-haven demand, while a cooler-thanexpected U.S. inflation print also supported bullion by strengthening expectations of rate cuts.

Currency:

The dollar rebounded slightly on Thursday thanks to a rise in U.S. Treasury yields, though currencies traded in tight ranges as investors struggled to determine the impact of an escalating global trade war on U.S. inflation and growth.

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