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European stocks and Wall Street stock futures drifted on Tuesday as cautiousness ahead of US inflation data tempered a long winning streak for stocks.

The Stoxx Europe 600, which closed higher for 13 of the last 15 trading sessions and hit its last all-time high on Monday, stagnated at the start of trading.

Futures on the US S&P 500 stock index, which on Monday closed its longest streak of unbroken records since 1997, fell 0.1%. Elsewhere, London’s FTSE 100 fell 0.3% while Hong Kong’s Hang Seng rose 0.2%. Tokyo’s Nikkei 225 closed 0.8% lower.

Equity markets rallied in Europe and the United States during a better-than-expected third quarter earnings season. The US Federal Reserve, the world’s most influential central bank, has indicated that it will keep borrowing costs at record highs despite high inflation, offering an additional windfall to markets.

Economists expect data released on Wednesday to show US consumer price growth accelerated to 5.8% in October from the same month last year, its highest level since 1990.

The pace of price increases in the United States has exceeded 5% since May, far exceeding the Fed’s target of an average rate of 2%.

Public debt markets were stable. The yield on 10-year Treasuries, which moves inversely to the price of debt and underpins borrowing costs and equity valuations around the world, fell 0.02 percentage points to 1.481 per hundred.

The equivalent yield of the German Bund was stable at minus 0.252 percent, close to its lowest level in a month after a few volatile weeks as traders debated when the European Central Bank and the Bank of England could tighten monetary policies .

The 10-year Bund yield was trading at around minus 0.8% at the start of the month while the 10-year Treasury yield was around 1.6%.

The British pound was stable against the dollar at $ 1.356. The dollar index, which measures the US currency against six others, remained stable. Brent crude, the benchmark for oil, rose 0.4% to $ 83.85 a barrel.

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