Uncertainty remained about further rate increases beyond this week.
Both S&P 500 futures and Nasdaq futures were flat, after a strong rally overnight to their highest closing levels in 14 months thanks to the softer U.S. inflation data.
Perhaps reflecting some of those concerns, two-year Treasury yields hit 4.7070% overnight, the highest since March, before easing a little to 4.6556% in Asian hours. Markets would also be focusing on the post-policy press conference from Fed Chair Jerome Powell and whether the dot plot would signal any hikes ahead.rapid pickup in UK wage growth
Short-dated German yields jumped to a 3-month high overnight as investors looked to the rate decision from the European Central Bank on Thursday.by another quarter-point and again in July before pausing for the rest of the year.
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