Global Markets Surge Ahead of Anticipated U.S. Inflation Data

Global shares rose for a second consecutive week amid optimism over U.S. inflation data that could lead to a Federal Reserve rate cut. This also impacted the dollar and bolstered gold. Japanese bonds saw a selloff, and copper prices soared due to supply concerns.

Global share markets experienced a rise on Friday, rallying for a second week as investors anticipate key U.S. inflation data likely to trigger a Federal Reserve rate cut. This expectation has put pressure on the dollar and buoyed gold prices as European stock markets were uplifted by advances in mining stocks, coinciding with copper reaching unprecedented highs.

Investor focus gravitated towards the bond market, particularly Japanese government bonds, which have led global debt selloffs this week. The 10-year Japanese bond yields soared to their highest level since 2007, while the 30-year yields reached historic peaks amid signals from the Bank of Japan hinting at an imminent rate increase.

In commodities, copper futures struck an all-time high following a forecast adjustment by Citi. Meanwhile, oil prices witnessed a slight decline, whereas gold recorded an increase. With the Federal Reserve's anticipated rate cut in focus, global financial markets continue to navigate considerable economic predictions and speculations.

(With inputs from agencies.)