Yield on the 10-year US Treasury note, seen as a proxy for Fed expectations, pushes above 4% on Thursday as futures markets predict another rate increase at the July 26 meeting. – AFP pic, July 7, 2023.
WALL Street stocks dropped yesterday following strong US economic data that boosts the chances for more Federal Reserve interest rate hikes. Yesterday’s reports included releases from payroll firm ADP estimating the US economy added 497,000 jobs last month, more than double the expected amount. Effective July 2018, access to full reports will only be available with a subscription. Sign-up now and enjoy one week free access!
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