CPI print wiped up last of recent gains for global bonds
Hopes have faded that central banks will make early rate cuts.
US inflation data has erased the last remnants of a global bond rally that started in December with the hope that the Federal Reserve had finally pivoted to favor interest-rate cuts.
A Bloomberg index of global debt has dropped 3.5% this year, wiping out all of its gains since Dec. 12, the day be
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