NEW YORK, USA – Stock indexes mostly rose on Thursday, April 7, as investors snapped up beaten-down shares, while the US dollar climbed to its highest in nearly two years and the US Treasury 10-year yield touched a three-year high following hawkish signals from the Federal Reserve.Helping to boost the S&P 500, Pfizer jumped 4.
Saint Louis Fed president James Bullard, a voter this year on the Federal Open Market Committee, said the Fed remains behind in its fight against inflation despite increases in mortgage rates and government bond yields. A day earlier, minutes released from the Fed’s March meeting suggested the US central bank’s balance sheet reduction could start next month.
In Treasuries, the 2 year-10 year spread widened as traders sharpened their focus on the pace and scope of the Fed’s plans to reduce its balance sheet.
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