Forecast bar support5/30/2023 The S&P 500 closed the day down 0.2%, after bouncing between gains and losses amid a rout in bank shares while the policy-sensitive Nasdaq climbed 0.8%, the most in over a week. Nomura economists took it one step further, saying the Fed could cut its target rate next week.Įxpectations had weighed a hike of as much as 50 basis points after Chair Jerome Powell addressed lawmakers last Tuesday. are saying the Fed could take a breather on the policy rate following the collapse of SVB. economists as well as asset managers at the world’s largest actively managed bond fund from Pacific Investment Management Co. Swaps traders are now pricing a less than 60% chance the Fed will hike by another quarter percentage-point later this month. The market turmoil has caused a swift reassessment over the direction of Fed policy. Traders will soon turn their attention back to Tuesday’s consumer price index report, which could drive further bets on the Federal Reserve’s next move. The dollar erased its gains for the year on Monday. The two-year yield dropped by more than a half-percentage point, logging the biggest three-day retreat since Black Monday of October 1987, as investors poured into haven assets. (Bloomberg) - The yield on the two-year Treasury note plunged in its biggest one-day slump in decades, while tech stocks rebounded from last week’s rout as the collapse of Silicon Valley Bank reverberated across trading desks. This content was published on Ma21:02 Ma21:02 minutes
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