Stocks, shorter-dated Treasury yields lower after CPI data

  • 📰 ChannelNewsAsia
  • ⏱ Reading Time:
  • 31 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 16%
  • Publisher: 66%

Malaysia News News

Malaysia Malaysia Latest News,Malaysia Malaysia Headlines

NEW YORK :Global stocks slipped for the first time in three sessions while shorter-dated U.S. Treasury yields dipped as slightly higher than expected U.S. inflation data and a jump in weekly jobless claims did not diminish expectations the Fed will cut rates in November. U.S.

FILE PHOTO: Traders work on the floor at the New York Stock Exchange in New York City, U.S., September 19, 2024. REUTERS/Brendan McDermid/File PhotoNEW YORK :Global stocks slipped for the first time in three sessions while shorter-dated U.S. Treasury yields dipped as slightly higher than expected U.S. inflation data and a jump in weekly jobless claims did not diminish expectations the Fed will cut rates in November.

"The market swung from thinking the Fed was too timid in its rate cut projections to being a bit ambitious." Markets have been dialing back expectations the Fed will be aggressive in cutting interest rates after Friday's strong U.S. payrolls report. Comments from Fed Chair Jerome Powell and other central bank officials have signaled the Fed has shifted its primary focus from combating inflation to labor market stability.

The dollar index, which measures the greenback against a basket of currencies, rose 0.13 per cent to 103.01, with the euro down 0.21 per cent at $1.0916.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 6. in MY

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Stocks shine, Treasury yields rise as rate cut stokes risk appetite(Corrects headline to show longer-dated Treasury yields rose)By Isla BinnieNEW YORK :Wall Street indexes marched past previous record highs after global counterparts booked gains and longer-dated Treasury yields rose on Thursday as the start of the Federal Reserve's first interest rate cutting cycle...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »