Asia Stocks Set for Small Gains; Currencies Steady: Markets Wrap

Most major currencies were little changed in early Asian trading, with the yen steadying after sliding to its weakest this year on Friday after the Fed chief’s remarks. Bank of Japan Governor Kazuo Ueda didn’t comment on foreign-exchange rates but said price growth remains slower than the central bank’s goal.

Equity futures for Japan, Hong Kong and Australia all pointed to small gains of less than 1% following the S&P 500’s 0.7% advance Friday, when it capped its best week since July. US equity futures opened higher Monday. While Treasuries were little changed during Powell’s long-awaited speech in Jackson Hole, Wyoming, yields pushed up after it concluded as the longer-for-higher rates message appeared to sink in. The yield on two-year bonds, which are highly sensitive to the Fed’s policy shifts, are comfortably above 5% while the rate on 10-year Treasuries fluctuated near 4.2%.Powell cautioned that the process of bringing inflation back to its target “still has a long way to go.

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Asia Stocks Set for Small Gains; Currencies Steady: Markets WrapAsian stocks look poised to follow US equities with modest gains Monday after Jerome Powell said the Federal Reserve would “proceed carefully” on whether to raise interest rates again, while signaling policy will remain tighter for longer.
Source: BNNBloomberg - 🏆 83. / 50 Read more »

US stocks close higher as traders brush off Powell's warnings of more potential rate hikes'It is the Fed's job to bring inflation down to our 2% goal, and we will do so,' Powell said at the Jackson Hole symposium Friday morning.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Egypt Stocks Hit Record High as Investors Seek Inflation OffsetEgypt’s benchmark stock index hit a record high, spurred by investors looking to hedge against surging inflation driven by a series of currency devaluations and the fallout from Russia’s invasion of Ukraine.
Source: BNNBloomberg - 🏆 83. / 50 Read more »