World shares marked time on Tuesday and were still just shy of record highs ahead of highly anticipated U.S. inflation data, while Japanese bonds were squeezed as the central bank pulled back a little on its bond buying programme. A broadly positive first quarter-earnings season has helped stock markets in recent weeks, but investors this week have been cautious ahead of important U.S. inflation data. The U.S. producer price index due at 1230 GMT is Tuesday's main macroeconomic event, though it will likely be overshadowed by Wednesday's consumer inflation data numbers, one of the major data points of the month.
Global markets are looking ahead to the Consumer Price Inflation print on Wednesday in the US, which will give clues as to the Federal Reserve's thinking on rate path.
Asian shares hovered around 15-month highs on Tuesday and the dollar was firm ahead of highly anticipated U.S. inflation data, while Japanese bonds were squeezed as the central bank pulled back a little on its bond buying programme. U.S., British and European equity futures were broadly steady, with the FTSE and Europe's STOXX 600 set to open near record levels. MSCI's broadest index of Asia-Pacific shares outside Japan hit its highest since early 2023 in morning trade, before settling back to flat.