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Equities lose ground with Treasury yields, dollar; US inflation data in focus

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…

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