Kitco News collects and features the top financial, economic and geopolitical news from around the world. Kitco's aggregated sources include some of the top newswires in the world including the Association Press, Canadian Press, Japanese Economic Newswire, and United Press International.
SYDNEY, Oct 27 - Global shares inched higher on Friday after data showed the U.S. economy was growing robustly and a U.S. core inflation report signalled price pressures are continuing to abate.
The yield on the 10-year U.S. Treasury, which moves inversely to the price of the debt security and functions as a benchmark for global borrowing costs, rose 2 basis points to 4.845% after scaling 5% earlier in the week "This is a bond market that at the moment doesn't need much of an excuse to fire a tantrum," said Simon Harvey, head of FX analysis at Monex Europe.
Brent crude futures climbed 1.9% to $89.71 a barrel on Friday, now about 5% higher since Hamas militants burst out of Gaza to attack southern Israel on Oct. 7. The ECB on Thursday also held its deposit rate at a record high of 4%, although president Christine Lagarde signalled in comments after the decision that further monetary tightening was possible.
Thanks to rate rises and a robust U.S. economy, the index that measures the dollar's strength against competing currencies has risen almost 5% in three months and was on Friday on track for a 0.5% weekly gain.
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