(Bloomberg) — Global equities rose to a record high ahead of a US inflation report that may offer clues on the Federal Reserve’s interest rate path.
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The MSCI All Country World Index rose 0.1% on Wednesday after closing at an all-time high in the previous session. The gauge has rallied nearly 6% since a low in April as risk sentiment improved after the greenback’s rally faltered and Chinese equities rebounded.
Optimism is building ahead of a report due Wednesday which is projected to show that underlying US inflation probably moderated in April for the first time in six months. Such bets are outweighing an assessment by Fed Chair Jerome Powell that interest rates may need to remain higher for longer to quell price pressures.
The global equities gauge had similarly climbed in March ahead of US inflation data before a hawkish Fed and the Iran-Israel conflict derailed its advance.
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