Tengku Zafrul says will facilitate PM’s meeting with Microsoft CEO in mission to make Malaysia Asean’s digital hubData on Friday showed US import prices increased marginally in February as a surge in the cost of petroleum products was partially offset by modest gains elsewhere, suggesting an improving inflation picture.
Markets are pricing in a 59.2 per cent chance for a rate cut of at least 25 basis points by the Fed in June, down from 59.5 per cent in the prior session and 73.3 per cent a week ago, according to CME’s FedWatch Tool.The central bank is widely expected to hold rates steady at its policy meeting next week but investors will be watching the central bank’s economic projections, including its interest rate forecast.
For the week, the S&P 500 lost 0.13 per cent, the Dow shed 0.02 per cent and the Nasdaq declined 0.73 per cent. Against the Japanese yen, the dollar strengthened 0.49 per cent to 149.05, despite expectations the Bank of Japan is expected to end its negative interest rate policy at its meeting next week.
The yield on benchmark US 10-year notes US10YT=RR was up 1 basis point at 4.308 per cent after reaching 4.322 per cent, its highest since February 23. The 10-year yield has jumped 22 bps this week, the most since mid-October.