"Rising Commodity Prices Fuel Inflation Concerns and Treasury Yields"

Commodity prices, buoyed by an improving global growth outlook, are complicating the interest rate picture as markets await the March consumer price inflation report. Rising energy and metals prices may give central banks reason to remain cautious about easing credit too early. Wall Street is anxious about the possibility of a blank for the start of the U.S. rate cut cycle, and rate futures now see June as a coin toss for the Federal Reserve. The positive twist for commodity stocks is offset by the additional headache this gives central bankers already wary about inflation stuck stubbornly above 2% targets. The week also marks the start of the corporate earnings season on Friday, with annual S&P500 profit growth through the first quarter penciled in at 5%.