#inflationcpi

#inflationcpi

The biggest driver for PCY over the next 12 months is U.S. interest rate trajectory. When the Fed cuts rates, two things benefit emerging market sovereign debt. First, U.S. Treasury yields fall, making PCY's 6.1% yield more attractive to income-focused investors. Second, rate cuts typically weaken the dollar, reducing the debt servicing burden for emerging market governments that borrow in dollars.

The Dow is down about 45 points, as the Nasdaq tacks on another 26 points. After yesterday's Micron-induced tech rally, Oracle ( NYSE: ORCL) is giving markets a boost. All on news TikTok agreed to sell its U.S. operations to a new joint venture that includes the oversold tech giant and private equity investors at Silver Lake. Shares of Oracle are up about $8.50 in premarket on the news.