Equities lose ground with Treasury yields, dollar; US inflation data in focus

NEW YORK/ LONDON, April 9 - A global equity index lost steam in mid-morning after earlier gains on Tuesday while U.S. Treasury yields fell from a more than 4-month high as investors waited for this week's U.S. inflation data and a European Central Bank meeting.

"We're seeing Treasury yields come in a bit which has been helpful for sentiment," said Mona Mahajan, senior investment strategist at Edward Jones. MSCI's gauge of stocks across the globe , opens new tab fell 2.17 points, or 0.28%, to 775.87 after earlier rising almost 0.5%. Traders were pricing in a roughly 56% chance for a 25 basis points rate cut in June down from a 61.5% chance a week ago according to CME Group's FedWatch, opens new tab tool.

In currencies, the dollar index gained 0.04% at 104.15, with the euro down 0.06% at $1.0852. Against the Japanese yen , the dollar weakened 0.05% at 151.71.

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