Bonds & Stocks
US government bonds surged as benign inflation data prompted traders to resume betting the Federal Reserve will cut interest rates again by July. The rally lowered yields by at least 10 basis points on notes maturing in two to 20 years.
Economy
US consumer prices rose in December by less than forecast after months of faster underlying inflation persuaded the Federal Reserve to signal a pause in interest-rate cuts.
The so-called core consumer price index — which excludes food and energy costs — increased 0.2% after rising 0.3% four straight months, Bureau of Labor Statistics figures showed Wednesday. Cheaper hotel stays, a smaller advance in medical care services and relatively tame rent increases helped restrain the December figure.
World
South Korean President Yoon Suk Yeol faces his first night in detention following his arrest by investigators looking to question the impeached leader over his short-lived martial law declaration.