Stocks rally after Fed hikes rates, crude jumps

The US central bank set its federal funds rate to a range between 0.75 per cent and 1 per cent in a unanimous decision that gave the benchmark overnight rate its biggest bump in 22 years.

"At worst, the Fed wants to meet market expectations. At best, they want to go slower or lower than what the market was pricing," he said. "Although hawkish in its own right, the decision is somewhat dovish compared to the market's lofty expectations," he said. Germany's 10-year government bond traded near multi-year highs, hitting its highest yield since June 2015 at 1.036 per cent, after European Central Bank board member Isabel Schnabel said a rate hike in July was possible.Oil prices rose about 5 per cent as the European Union, the world's largest trading bloc, spelled out plans to phase out imports of Russian oil, offsetting demand worries in top importer China.

Gold bounced higher after Powell flagged risks to the economy from soaring inflation. Earlier, US gold futures settled down 0.1 per cent at US$1,868.8 an ounce.

Belgique Dernières Nouvelles, Belgique Actualités

Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.

US stocks rally, dollar retreats as Fed lifts interest ratesNEW YORK: Wall Street stocks rallied and the dollar retreated on Wednesday (May 4) after the Federal Reserve announced a large 50 basis points interest rate increase but ruled out an even big
La source: ChannelNewsAsia - 🏆 6. / 66 Lire la suite »

Stocks inch up, US yields near 3% as markets ready for Fed hikeMILAN : World stocks rose slightly on Tuesday and U.S. 10-year Treasury yields held near 3 per cent as investors prepared for the Federal Reserve's biggest rate hike since 2000.In a busy week for central bank meetings, Australia's central bank raised its key rate by a bigger-than-expected 25 basis points
La source: ChannelNewsAsia - 🏆 6. / 66 Lire la suite »