The US bond market was hit by a fresh round of selling after Federal Reserve Chair Jerome Powell said the central bank remains prepared to push interest rates higher if needed to keep reining in inflation.While Treasuries were little changed during Powell’s long-awaited speech in Jackson Hole, Wyoming, yields pushed up after it concluded as … Read more
Rating agency Fitch on Tuesday downgraded the U.S. government’s top credit rating, a move that drew an angry response from the White House and surprised investors, coming despite the resolution of the debt ceiling crisis two months ago. Fitch downgraded the United States to AA+ from AAA, citing fiscal deterioration over the next three years … Read more
Gold gained on Thursday as the dollar and Treasury yields slipped after U.S. consumer price data suggested inflation might have peaked in April, allaying some concerns of more aggressive Fed rate hikes. A weaker dollar makes gold attractive for overseas buyers, while lower Treasury yields reduce the opportunity cost of holding zero-yield bullion. FUNDAMENTALS * … Read more
April 29 : Gold prices edged higher on Friday as lower U.S Treasury yields outweighed pressure from an elevated dollar, but bullion was still headed for its biggest monthly drop since September on fears of aggressive interest rate hikes by the Federal Reserve. FUNDAMENTALS * Spot gold was up 0.1% at $1,897.01 per ounce, as … Read more
HONG KONG: The dollar index rose past 101 for the first time since March 2020 on Tuesday, as the greenback set its latest 20-year high on the yen and tested a two-year peak on the euro, supported by high U.S. Treasury yields and expectations of good economic data. The dollar index, which measures the greenback … Read more
Goldman Sachs Group said it now expects the Federal Reserve to raise interest rates by a half-percentage point at both its May and June meetings to contend with surging inflation, leading the Wall Street bank to revise up its forecasts for US Treasury yields across the curve. The bank now sees shorter-dated yields rising at … Read more
March 14: Gold prices fell on Monday, dragged by firmer U.S. Treasury yields and improved risk appetite on hopes of peace between Russia and Ukraine. FUNDAMENTALS * Spot gold was down 0.4% at $1,977.14 per ounce by 0045 GMT. U.S. gold futures fell 0.4% to $1,976.40. * Benchmark U.S. 10-year Treasury yields rose to a … Read more
March 10: Gold prices fell on Thursday, as U.S. Treasury yields rose while investors opted for riskier assets amid a retreat in oil prices after the United Arab Emirates said it would help increase oil production, making safe-haven bullion less appealing. FUNDAMENTALS * Spot gold was down 0.8% at $1,975.69 per ounce, as of 0139 … Read more
US 10-year Treasury yields could rise to 2.15% by year-end, BofA said on Friday, in a target it said was above consensus. BofA revised up its target citing a “much more aggressive” US fiscal stimulus impulse and rapid vaccinations in the United States. The bank also revised up its target for German 10-year Bund yields, … Read more
By Craig Torres Federal Reserve officials continued to project near-zero interest rates at least through 2023, while upgrading their economic outlook to reflect greater optimism over the US recovery from Covid-19 amid a surge in Treasury yields. “Following a moderation in the pace of the recovery, indicators of economic activity and employment have turned up … Read more