A trader works on the floor of the New York Stock Exchange on Aug. 23, 2024. Bloomberg | Bloomberg | Getty Images Central banks around the world are set to kick off or continue interest rate cuts this fall, bringing an end to an era of historically high borrowing costs. In September, the U.S. Federal Reserve is all but…
Federal Reserve Chair Jerome Powell laid the groundwork Friday for interest rate cuts ahead, though he declined to provide exact indications on timing or extent. “The time has come for policy to adjust,” the central bank leader said in his much-awaited keynote address at the Fed’s annual retreat in Jackson Hole, Wyoming. “The direction of travel is clear, and…
U.S. Treasury yields rose Thursday as Wall Street assessed weekly jobless claims data that came in below expectations, easing concern from July’s payroll report last week that the labor market was weakening. The yield on the 10-year Treasury was around 3 basis points higher at 3.994%. The yield on the benchmark is near its highest level since last Thursday,…
Treasury yields bounced back on Tuesday as investors closely monitored a reversal of the previous day’s global market sell-off. The yield on the benchmark 10-year Treasury note traded around 11 basis points higher at 3.889% at 3:44 p.m. ET. It comes after the yield on the 10-year Treasury note on Monday fell to its lowest level since June 2023….
A man walks past an electronic quotation board displaying the exchange rate for the Japanese yen against the US dollar in Tokyo on August 2, 2024 Kazuhiro Nogi | Afp | Getty Images The key driver of global markets is the yen exchange rate, according to one financial historian, who warned the trend should concern those “entirely focused on…
WASHINGTON – Federal Reserve officials on Wednesday held short-term interest rates steady but indicated that inflation is getting closer to its target, which could open the door for future interest rate cuts. Central bankers made no obvious indications, though, that a reduction is imminent, choosing to maintain language that indicates ongoing concerns about economic conditions, albeit with progress. They…
