NEW YORK/LONDON, May 6 - A gauge of global stock markets rose on Monday on optimism that major central banks will cut interest rates this year, while the yen weakened against the dollar after a strong surge last week from Japan's suspected currency intervention.
But the outlook on rates is still uncertain as the market hopes rates are restrictive enough to slow the economy and the pace of inflation, Conger said. Philip Lane, Gediminas Simkus and Boris Vujcic said separately that the inflation and growth data cemented their belief that euro zone inflation, which was 2.4% in April, will slow to the central bank's 2% target by the middle of next year.
Treasury yields ticked higher as investors assessed last week's subdued job creation, which reinforced view that the U.S. economy was not overheating enough to derail a rate cut. Oil prices were also in focus on the prospects of Saudi Arabian price hikes and rising tensions in the Middle East, with U.S. crude up 0.56% to $78.55 a barrel and Brent higher at $83.39 per barrel, up 0.52% on the day.
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