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Unexpectedly high U.S. producer price inflation figures on Wednesday could cool this week's rally in emerging market and Asian stocks, with local attention on Thursday turning to Indian consumer inflation.
But the tone of trading across Asian markets on Thursday may be a little more cautious than some of the headline moves on Wednesday indicate, and may also hinge on the U.S. yield curve. But ugly U.S. producer inflation data at the U.S. open on Wednesday - monthly, annual, headline and core readings were all higher than expected - was a reality check for those betting the Fed is all but done raising rates.
But this flipped back again after the latest Fed minutes were released, paving the way for a late flourish on Wall Street and positive close for the three main indexes.
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