Asian shares extend global rally
Seoul’s Kospi rises 0.32% as US inflation data seen supporting ‘transitory’ thesis
11 June 2021 - 08:20
Shanghai — US bond yields fell to three month lows and a broad gauge of Asian shares rose on Friday as investors saw enough one-off factors in US consumer price data to back the Federal Reserve’s conviction that rising inflation will be transitory.
Some economists say the rise in the consumer price index (CPI) reflected short-term adjustments related to a reopening economy, and many investors appear to be confident that the Fed is deftly handling a rebound in economic growth — even as questions remain about how it defines “transitory”...
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