US inflation slows more than expected, stock markets soar

European stocks rise sharply after US inflation data. Milan closes at +1.75%, the highest in 15 years, London +1.83%, Frankfurt +1.47%, Paris +1.57%. The Dow Jones is up 0.7%, the Nasdaq +1.22%. The better-than-expected fall in inflation to its lowest level since March 2021 is also affecting exchange rates, weighing on the dollar and pushing the euro higher to 1.1120 against the greenback.

The 10-year yield falls sharply to 172 basis points at 4.27%, down 14 basis points from yesterday. All sectors are represented, Stm has the best +4.79%, only poor Saipem -1.14%, while Brent surges above $80 a barrel and Gas falls to €26.5 per MWh.

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