Thursday’s jobs data revived expectations the US central bank would stick to its monetary tightening path.London — Stock markets dropped across the globe on Friday and the dollar leapt to six-week highs as jobs data revived expectations the US central bank would stick to its monetary tightening path.
“The markets are torn between two instruments. Intra-day stock prices and credit spreads see a lot of volatility and nervousness while there has been no surge in implied volatility options,” said Ielpo. At its January 31 to February 1 policy meeting, the Fed opted to moderate the pace of interest rate rises, lifting rates by 25 basis points to the 4.50%-4.75% range after a series of jumbo rate increases last year.
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