WASHINGTON, June 15 — Global stock markets were mixed while US Treasury yields ticked up yesterday, as investors waited for the results of a Federal Reserve policy meeting before making any major new bets.
The major market focus is on the upcoming Fed meeting, which will mark the first time the central bank has set policy since a pair of disappointing jobs reports and potential signs of looming inflation. Fed officials have maintained they view recent price increases as “transitory,” but the policy update, paired with Fed Chairman Jerome Powell’s ensuing news conference tomorrow, will be pored over for signs of when the Fed might begin to pull back unprecedented pandemic stimulus.
Gold prices dipped as investors prepared for a possible Fed exit strategy. Spot gold prices fell US$10.6705 , or 0.57 per cent, to US$1,865.97 an ounce. US gold futures settled 0.7 per cent down at US$1,865.9.