India, Sept. 9 -- Persisting hostilities in the Middle East lifted crude oil prices further, pushing bond yields higher and dampening global market sentiment. The energy price shock renewed concerns about a rate hike by the Federal Reserve, ahead of key data releases from the U.S. related to producer price inflation on Thursday and consumer price inflation on Friday.
The CME FedWatch tool that tracks the expectations of interest rate traders shows the likelihood of a rate hike by the Federal Reserve on September 16 at 62.4 percent, versus 59.4 percent a day earlier.
Wall Street Futures are trading way below the flatline. Major benchmarks in Europe are trading on a negative note ahead of European Central Bank's interest rate decision on Th...