Investors were ready for the Federal Reserve to tee up a possible announcement of a tapering of its bond purchases in November in its policy statement Wednesday, but a slowing economic recovery could mire more hawkish monetary policy steps.
“The most important piece of this puzzle is that longer-term rates are actually lower since June,” a sign the market believes the economy may not be strong enough for the Fed to hike “in any shape or form,” said Mardarovici. Longer-term yields moved slightly down while short-term rates edged up Wednesday as the market digested details from the Fed meeting, she explained, in an “almost imperceptible” flattening of the yield curve.
“The reality of the situation is that we’re still beholden to the trajectory of the virus,” said David Lebovitz, global market strategist at JPMorgan Chase & Co.’ s asset management unit, in a phone interview. “There are going to be knock-on effects when it comes to the supply chain globally.”
المملكة العربية السعودية أحدث الأخبار, المملكة العربية السعودية عناوين
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