- After a soaring run in November, stocks continued to rise and Treasuries remained stable as investors awaited a crucial US inflation statistic in hopes of seeing more proof that the pressure on prices is lessening.
- Europe's STOXX 600 index rose 0.4%, on track for its best month since January, while US futures rose.
- Treasury yields on 10-year paper rose four basis points to 4.30% as the dollar bounced 0.4% at the end of its worst month in a year, sending all major developed- and emerging-market currencies lower. The euro traded down 0.5% versus the greenback as the pace of price growth in the region slowed.
- In other news, oil gained for a third day as markets counted down to a major meeting at which OPEC+ will determine output strategy for the coming year, with the group mulling extra output cuts of approximately 1 mln BPD as it strives to overcome internal differences and shore up languishing crude prices.
- In Europe, the euro declined after weak French economic data and a Eurozone inflation print that came in lower than the estimates.
- OPEC+ has a preliminary deal for additional oil output reductions of more than 1 mln BPD - delegate.
- Traders fully price a 25 BPS ECB rate cut in April for the first time.