NEW YORK, March 6 — World share prices and bond yields edged lower today as investors digested a lower-than-expected growth target from China and the focus turned to testimony from Federal Reserve Chairman Jerome Powell and US jobs data this week.
Oil prices also dropped by more than 1 per cent, another reflection of disappointment with China's growth target. The STOXX index was still near its highest since February 2022 and MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.5 per cent. The stage is set for Powell's testimony to Congress on Tuesday and Wednesday, where he will no doubt be quizzed on whether larger hikes are needed.
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