By Sinéad Carew and Samuel Indyk
NEW YORK/ LONDON (Reuters) -A global equity index lost steam in mid-morning after earlier gains on Tuesday while U.S. Treasury yields fell from a more than 4-month high as investors waited for this week’s U.S. inflation data and a European Central Bank meeting.
Oil prices were down for a second day even as prospects dwindled that negotiations between Israel and Hamas would produce a ceasefire in Gaza.
The dollar was lower as investors waited for U.S. inflation data due on Wednesday and Japan’s yen hovered near multi-decade lows, keeping traders on alert for any signs of intervention.
“We’re seeing Treasury yields come in a bit which has been helpful for sentiment,” said Mona Mahajan, senior investment strategist at Edward Jones.
“Ahead of the inflation report there’s a rising thought that we know what’s coming tomorrow, a slight bump in the headline and a…