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REUTERS reports:

World stocks and government bonds rallied on Wednesday after data showing headline U.S. inflation eased last month slightly tempered expectations for another rate hike from the Federal Reserve.

U.S. stock futures pointed to a positive open for Wall Street shares , , while the dollar fell against other major currencies after data showed the U.S. consumer price index rose 5% — the smallest year-on-year gain since May 2021.

Money markets trimmed expectations for a May Fed rate hike, pricing in a roughly 67% chance of a move, versus around 75% just before the data…

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