Morning Bid: Disinflation, rotation and a bruised dollar

A violent rotation from Big Tech into small cap stocks followed the surprisingly benign June U.S. inflation report, while U.S. borrowing rates and the dollar plunged and Japan’s yen stole the currency show.

What’s now become almost traditional market volatility on U.S. CPI day didn’t disappoint on Thursday.

Although there’s been some steadying of the ship early on Friday as major U.S. banks prepare to kick off the second-quarter earnings season in earnest, confirmation of a resumption of disinflation has left its mark.

Source: REUTER