Market remains bullish on rates cuts despite US inflation uptick

The headline figure came in at 3.4% for December, according to data from the Bureau of Labor Statistics, up from November's 3.1% and above economist predictions of 3.2%. Core inflation has continued to ease, dropping to 3.9%. Eurozone inflation rises to 2.9% Despite this, markets are still predicting the first cut to come from the Fed at its 20 March meeting, with a 61.9% probability, according to the CME FedWatch Tool. US ten-year treasury yields spiked at 4.07% on the news but have since ticked down to 4.04%. The dollar has risen against the pound, euro and yen on the news,...