The New York Stock Exchange. Picture: REUTERS/BRENDAN McDERMID
Powell said the central bank is “insulated from short-term political pressures”, but he said he and his colleagues are currently grappling with whether uncertainties around US tariffs, Washington’s conflict with trading partners, and tame inflation require a rate cut. The dollar rebounded and gold prices retreated after Powell’s comments, which pulled the dollar up from three-month lows against a basket of other currencies in the previous session at 95.843. It was up 0.1% at 96.273.
However, not all see the comments as evidence of a policy U-turn. Richard Dias, multi-asset strategist at Pictet Asset Management, said the Fed had effectively backed itself into a corner, making a cut in July or September highly likely. European bond yields remained pinned to all-time lows, unmoved by the apparent shift in tone from the Fed. Germany’s 10-year benchmark bond yield held at about -0.32%. And with the seemingly insatiable bid for bonds continuing, Austria opened books on a 100-year bond, a tap of its existing September 2117.
Ireland Ireland Latest News, Ireland Ireland Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
MARKET WRAP: JSE slips in risk-off trade, with banks and retailers faring worstGlobal markets begin the week lower as fears mount that the US and China won’t bury the hatchet over trade later this week
Source: BDliveSA - 🏆 12. / 63 Read more »
Source: IOL - 🏆 46. / 51 Read more »