US inflation data is the next focus

Higher prices: People shop for groceries at a supermarket in Glendale, California. The US consumer price index for January is expected to have risen 0.5%, culminating in an annual rise of 7.3%, which would be the largest such increase since 1982. — AFP

NEW YORK: Wild swings in stocks and a sharp run-up in government bond yields are putting the spotlight on this week’s United States inflation data, as investors brace for more volatility across assets.

A turbulent week in markets ended last Friday with a surge in Treasury yields to their highest level in more than two years after surprisingly strong US jobs data stoked expectations of a more hawkish Federal Reserve (Fed).