TOKYO/WASHINGTON - Japanese financial markets were roiled in afternoon trade on Friday after news that Japanese Prime Minister Shinzo Abe will resign for health reasons later on in the day.
The 10-year U.S. Treasury yield rose to 0.7870%, the highest since June 10, which caused the yield curve to steepen, reflecting the Fed's tolerance for higher inflation. Markets swirled after Fed Chairman Jerome Powell laid out a policy that aims for 2% inflation on average so that too low a pace would be followed by an effort to lift inflation"moderately above 2% for some time."
"But Powell really didn't reveal much beyond that. Some people who were expecting a clearer steer on policy or some kind of cap on bond yields are left disappointed."
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Fuente: The Straits Times - 🏆 8. / 63 Leer más »