Markets rise as interest rate concerns ease

Markets were mostly higher on Wednesday.

The S&P 500 rose 0.6 percent and the STOXX Europe 600 rose 0.4 percent.

Earlier in the day, though, Asian markets had finished mixed.

Interest rate concerns eased somewhat after a report showed that the US CPI rose 1.7 percent year-on-year in February and a US 10-year Treasury auction of US$38 billion in notes on Wednesday was met with adequate demand.

Art Hogan of National Securities noted that the “yield on the 10-year has ceased going parabolic” while Kimberly Woody, portfolio manager at Globalt Investments, said that “bonds are still oversold”.