MILAN—World stocks held on to modest gains on Thursday on cautious optimism that U.S. data will confirm inflation is softening, while the yen rose with a report Japan will this month review the side-effects of its ultra-easy policy.
A MSCI gauge of world stocks rose 0.2 percent to a four-week high by 0831 GMT ahead of core U.S. consumer price inflation, which are expected to have slowed to an annual 5.7 percent in December, from 6 percent a month earlier. Month-on-month headline inflation is seen at zero.
Bonds held gains, also mirroring hopes of a softer inflation print, and the U.S. dollar was near a seven-month low against a basket of currencies. Europe’s STOXX 600 equity benchmark index rose 0.4 percent to its highest since April 2022….