The Globe and Mail reports in its Wednesday edition that global stock markets soared and bond yields plunged on Tuesday as cooler-than-expected U.S. inflation data boosted expectations that the Federal Reserve was done raising interest rates and was on the path to cutting them next year. A Reuters dispatch to The Globe says that the S&P 500 closed up 1.9 per cent, its best day since April, with the rate-sensitive real estate and utilities sectors posting their biggest daily percentage gains since November, 2022. The S&P/TSX Composite Index gained 1.6 per cent to a near eight-week high in a broad-based advance that also was led by the real estate and utilities sectors. In the 12 months through October, the consumer price index climbed 3.2 per cent after rising 3.7 per cent in September. Economists were expecting a 3.3-per-cent gain. Core prices, which exclude the volatile food and energy components, rose 4 per cent compared with economists' estimate of a 4.1-per-cent increase. Consumer prices were unchanged on a monthly basis, the first such reading in more than a year. "It's telling us that the Fed is done, there's nothing left for it to do here," said Thomas Hayes at hedge fund Great Hill Capital at New York.