US stock indexes ended in negative territory, erasing earlier gains as Treasury yields rose after an auction of 30-year bonds went poorly as sales only reached USD 21 billion, with the final sale of USD 96 billion this week. Markets view the rising bond yields as an alternative investment that is more attractive than equities.
Several mixed market sentiments, one of which came from the Federal Reserve officials on Wednesday adding to the cautious mood, stated that more interest rates rises are in the cards as the US central bank moves ahead with efforts to control inflation.
All three US stocks fell in a volatile trading day, with the Nasdaq leading the most significant decline of 1.68%, triggered by the Alphabet shares became the biggest drag that sank 7.7% after its new AI chatbot Bard delivered an incorrect answer in an online advertisement.
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Para investor mencerna komentar dari Federal Reserve Chairman Jerome Powell pada EconoThe investors digested comments from Federal Reserve Chair Jerome Powell at the Economic Club of Washington about how long the central bank may need to tame inflation. Powell said significant declines in inflation should be seen by 2023.mic Club of Washington mengenai berapa lama waktu yang diperlukan bank sentral untuk menjinakkan inflasi.
US stocks rallied and moved in a volatile trading session. At the same time, the US Dollar retreated on Tuesday as investors digested comments from Federal Reserve Chair Jerome Powell at the Economic Club of Washington about how long the central bank may need to tame inflation.
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Global equity markets fell, and the dollar firmed against several world currencies after data showed a resilient US jobs market, indicating interest rates will stay higher for longer as central banks fight to slow inflation amid relatively strong economic growth. Government bonds, which typically perform well when there is a dash for safe havens, sold off intense pressure; resulting in the 10-year US Treasury yield crawling up to a 1-month high of 3.655%, while the yield on Germany’s 10-year bond (Eurozone benchmark), reached 2.306%.
Global equity markets fell, and the dollar firmed against several world currencies after data showed a resilient US jobs market, indicating interest rates will stay higher for longer as central banks fight to slow inflation amid relatively strong economic growth.
