Asia shares open gingerly on U.S. inflation, earnings season

By Wayne Cole SYDNEY (Reuters) – Asian shares started cautiously on Monday as investors braced for a U.S. inflation report that could force another super-sized hike in interest rates, and the start of an earnings season where profits could be under pressure. An upbeat U.S. June payrolls report already has the market wagering heavily on a hike of 75 basis points from the Federal Reserve this month, and sending bond yields higher. Underlining the global nature of the inflation problem, central banks in Canada and New Zealand are expected to tighten further this week. [NZ/INT] [CA/INT] While Wall…

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