US Inflation Data Announced As Expected
US inflation data announced as expected. The inflation rate in the country for February was 0.4 percent.
The consumer price index (CPI) in the
US increased by 0.4 percent in February compared to the previous month. In February, the CPI increased by 1.7 percent compared to the same period of the previous year.
Excluding food and energy, prices increased by 0.1 percent on a monthly basis and 1.3 percent on an annual basis.
Data Met Expectations
After the data was announced, while bond yields declined, earnings in the US dollar began to decline. With the data, it was observed that the US futures increased, while a decrease was observed in the USD/TL exchange rate.
US 10-year bond yield, which started the new year below 1 percent, had an upward momentum due to inflation expectations and the yield was based on 1.62 percent.
The source of bond yields and inflation in the country was
US President Joe Biden's $ 1.9 trillion support package.
The $ 1.9 trillion economic stimulus package prepared within the scope of combating coronavirus was accepted in the US Senate with 50 votes against 49. The bill, which was started with the introduction of a special legal regulation, was passed by the Senate without the need for the support of the Republicans.
The bill, which will be sent to the White House after it is approved in the House of Representatives, will realize the second largest stimulus package in US history.