Markets steady as central banks hold the line

Investors digested mixed signals on Wednesday as policymakers signalled patience over rate cuts amid uneven economic data. Trading volume was light heading into the close.

Bond yields edge higher

The 10-year yield ticked up two basis points after stronger-than-expected manufacturing prints. Analysts said the data complicates the timing of an early easing cycle.

Demand is holding up better than feared, but pricing power is fading — that is the tension on every desk.

Equities ended slightly higher, with cyclical sectors leading. Earnings season has so far surprised modestly to the upside, providing a floor under sentiment.