Global markets were all up overnight. Infltion data out from the UK and the US sparked a surge in stockmaekets.
In Europe, the FTSE rose 99 points (1.21%), the DAX rose 303 points (1.50%) and the CAC rose 50 points (.69%).
UK CPI data showed inflation falling to 2.5% in December - down from 2.6% in November. Core inflation in December fell to 3.2% in December from 3.5% in November (market expectations were for 3.4%.
UK Services inflation fell to 4.4% in December - down from 5% in November (market expectations were for 4.8%.
European markets reacted positively to the cooling of inflation in the UK.
Strong rises in the US overnight, the DOW rose 703 points (1.65%), the NBI rose 82 points (1.94%), the NASDAQ Composite rose 466 points (2.45%) and the Russell small cap index rose 44 points (1.99%).
Banking stocks rose heavily after the inflation data was released.
US CPI data showed a fall in inflation to 2.9% and a fall in the core inflation to 3.2% (down from 3.3% in November.
Despite the cooling inflation, consensus is that the UF Fed will hold rates at its next meeting.
US Treasury 10 year bond yield fell to 4.656%
Oil prices continue to rise - Brent crude is sitting at US$82.47 per barrel.
precious metal prices rose - gold is at US$2,696 per oz.
BITCOIN surged and is sitting at US$99,613.
IMU Price at posting:
4.0¢ Sentiment: Buy Disclosure: Not Held
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