US March CPI Fuels Inflation Spike; Markets Waver Ahead of Data, Eyeing Fed Cuts and Iran Talks

March CPI data revealed a 3.3% inflation rate, with soaring gasoline prices contributing significantly to the biggest monthly spike in four years. Markets wavered in anticipation of the key US inflation data, with bond traders still predicting Federal Reserve rate cuts later this year, while also awaiting US-Iran talks.