NEW YORK, Aug 26 ― Global equity markets slipped yesterday, while US Treasury yields dipped after reaching two-week highs after two hawkish Federal Reserve officials called for the US central bank to start ending its bond-buying programme
Minutes from the Fed's July meeting released last week showed most policy makers expect the Fed to start tapering bond purchases this year, though consumer sentiment and economic data have weakened since that meeting. The MSCI world equity index, which tracks shares in 50 countries, was down 0.52 per cent, while the pan-European STOXX 600 index fell 0.32 per cent.On Wall Street, all three major indexes closed lower, with stocks in consumer discretionary, technology, financials and consumer staples among the biggest losers.
The US dollar jumped from one-week lows after Kaplan and Bullard's comments on bond tapering, pushing the greenback toward a key resistance level.