Bonds & Stocks
Stocks fell as inflation data reinforced bets the Fed won’t cut rates any time soon, with the S&P 500 poised for its worst month since March. The S&P 500 fell 0.9%. The Nasdaq 100 fell 1%. The yield on 10-year Treasuries declined three basis points to 3.98%.
Economy
For the first time since 2022, the average 30-year mortgage rate in the US has slipped below 6%, a milestone that could breathe life into the coming spring home-selling season.
World
Germany's inflation rate has fallen back below the 2% target the European Central Bank has set for eurozone inflation, posting a preliminary annual rise of 1.9% in February.