A pedestrian holding an umbrella walks past an electronic stock board outside a securities firm in Tokyo, Japan, on Friday, April 26, 2019. Picture: KEITH BEDFORD / BLOOMBERG
South Korea edged up 0.4%, but Japan’s Nikkei lagged with a loss of 0.2%. E-Mini futures for the S&P 500 dithered either side of flat in very slow trade. Futures are still fully priced for a 25-basis-point cut at the Fed’s July 30-31 meeting, but have abandoned wagers on a half-point move. They had implied a 25% probability of an aggressive cut before Friday’s upbeat jobs report.
Overnight, Atlanta Fed bank president Raphael Bostic let nothing out of the bag by saying the central bank was debating the risks and benefits of letting the US economy run “a little hotter”. That in turn has helped the dollar bounce on a basket of currencies to 97.521 from a June low of 95.843.
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JSE set for mixed start on Wednesday as market awaits Fed cluesChair Jerome Powell to present to the US congress amid speculation that rates may not be cut nickhedley what are you saying? Up or down? Hedging your bets? You are paid to come up with such headlines?
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JSE at one-month low as market reduces Fed rate cut expectationsGlobal markets are broadly lower on Tuesday, with investors awaiting a speech later in the day by US Fed chair Jerome Powell
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