US TREASURY and US DOLLAR yields fell as a weak US inflation report maintained expectations of a large interest rate cut at the Federal Reserve’s upcoming policy meeting in November.
US TREASURY and US DOLLAR yields fell while the DJIA recorded a record closing high on Friday (27/09/24) as a weak US inflation report maintained expectations of a large interest rate cut at the Federal Reserve’s upcoming policy meeting in November.
The positive economic data came a day before the PCE PRICE index data – the Fed’s favorite inflation gauge – (which is predicted to flatten to 2.3% yoy for Aug) and is likely to be an important consideration in the Federal Reserve’s next monetary policy plan.
The S&P 500 set a record closing high, the Dow Jones Industrial Average and the Nasdaq rose in Thursday’s trading (26/09/24), on the back of gains in Technology sector stocks reflecting strong demand for artificial intelligence computing-related memory chips; as well as a better-than-expected US jobless claims report easing labor market concerns.
US Treasury yields rose as investors held on to the view that the Federal Reserve would be able to create a soft landing for the US economy.
Global stock indexes were mostly lower in Wednesday’s trading (25/09/24), triggered by the Energy sector which slid 1.9% on the back of lackluster Oil prices, while US Treasury yields rose as investors clung to the view that the Federal Reserve will be able to create a soft landing for the US economy.
Copper prices reached the strongest level in 10 weeks on Tuesday trading (24/09/24) after China announced stimulus measures to support its economy.
Global stock indexes rose to all-time highs and copper prices hit their strongest level in 10 weeks on Tuesday (24/09/24) after China announced stimulus measures to support its economy.
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