indicated stubbornly high inflation may finally be starting to slow and give the Fed room to dial back its tightening policies, pushing MSCI’s gauge of stocks across the globe to its biggest weekly percentage gain in two years.
“There is still a sensitivity to Fed speak…. One was a little hawkish, one was a little dovish,” said Eric Kuby, chief investment officer at North Star Investment Management Corporation. Benchmark 10-year notes were up 4.2 basis points to 3.871% from 3.829% late on Thursday, November 10. The bond market was closed for the Veterans Day holiday on Friday, November 11.In contrast, dovish comments from European Central Bank policymaker Fabio Panetta and Cypriot policymaker Constantinos Herodotou helped send European bond yields lower, although short-dated rates remained near multi-year highs hit recently.