NEW YORK, July 8 ― US Treasuries prices maintained gains yesterday, holding down yields, and two stock indexes notched record highs after minutes from the Federal Reserve's latest meeting largely confirmed market expectations. The dollar remained firm.
“It looks like they're setting the market up for an announcement on cutting back from this bond buying some time toward the end of the third quarter or early fourth quarter,” said Andrew Richman, senior fixed income strategist at Sterling Capital Management in Jupiter, Florida. US stock prices bounced off session lows to post slight gains for the day, with the S&P 500 and tech-laden Nasdaq closing at record highs.
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