NEW YORK, Oct 10 - Global stock indexes advanced while Treasury yields slid on Tuesday as Federal Reserve officials suggested there may be no need for further interest rate hikes in the near term, and oil prices eased a day after gaining sharply on violence in Israel.Atlanta Fed Bank President Raphael Bostic on Tuesday said the U.S. central bank does not need to raise rates any further, and sees no recession ahead.
U.S. Treasury yields fell on the comments but also partly in reaction to continuing violence in the Middle East. On Tuesday, Israel hit the Gaza Strip with the fiercest air strikes in its 75-year conflict with the Palestinians, despite a threat from Hamas militants to execute a captive for each home hit.
"We had dovish statements yesterday by Fed officials and then you have flight to safety here from the tragic events in Israel," said Stan Shipley, managing director and macro research analyst at Evercore ISI in New York.