Asia extends global stocks rally, U.S. bond yields fall on easing inflation fears

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By Andrew Galbraith SHANGHAI (Reuters) – U.S. bond yields fell to three month lows and a broad gauge of Asian shares rose on Friday as investors saw enough one-off factors in U.S. consumer price data to back the Federal Reserve’s conviction that rising inflation will be transitory. Some economists say the rise in CPI reflected short-term adjustments related to a reopening economy, and many investors appear to be confident that the Fed is deftly handling a rebound in economic growth – even as questions remain about how it defines “transitory”. Data overnight showed U.S. consumer price index pos…

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