Longer-dated US yields hit 16-year high on Fed rate outlook

Longer-dated US yields hit 16-year high on Fed rate outlook

NEW YORK: US Treasury yields were higher on Monday, with the benchmark 10-year Treasury yield building on three straight weeks of gains on expectations the U.S. Federal Reserve will keep interest rates at higher levels for longer than initially anticipated. Chicago Fed President Austan Goolsbee said on Monday that inflation remaining entrenched above the central … Read more

BofA expects two more interest rate hikes from Fed, growth in Q4

BofA expects two more interest rate hikes from Fed, growth in Q4

BofA Global Research said it now expected two more quarter percentage point interest rate hikes from the U.S. Federal Reserve this year, taking its terminal rate forecast to 5.5% to 5.75%. BofA earlier expected the terminal rate to be held at the current 5%-5.25% range, but the change in forecast comes after the Fed kept … Read more

Bank of England set to raise UK interest rates to highest level since 2008

Bank of England set to raise UK interest rates to highest level since 2008

The Bank of England is set to raise interest rates later Thursday to their highest level since late 2008 as it continues to combat stubbornly high inflation in the U.K. Financial markets expect the bank’s nine-member Monetary Policy Committee to lift its main interest rate by a quarter of a percentage point to 4.5%, its … Read more

RBI sells dollars as rupee hits record low on U.S. rate hike fears

RBI sells dollars as rupee hits record low on U.S. rate hike fears

The Reserve Bank of India likely sold dollars via state-run banks on Friday after the rupee slid below 82 to a record low against the dollar on concerns over the U.S. Federal Reserve rate outlook, traders told Reuters. The rupee was last trading at 82.2675, down from 81.88 in the previous session, but off the … Read more

Credit Suisse, Citi cut 2022 year-end target for S&P 500

Credit Suisse, Citi cut 2022 year-end target for S&P 500

Credit Suisse and Citigroup became the latest brokerages to bring down their 2022 year-end targets for the S&P 500 index, as U.S. equity markets bear the heat of aggressive central bank actions to tamp down inflation. Credit Suisse cut its target for the benchmark index by about 10% to 3,850 points on Monday, citing the … Read more

Europe’s central banker: Not adding to pinch with rate hike

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The head of the European Central Bank warned that high oil and gas prices are hitting consumers in the 19 countries that use the euro harder than in other major economies and underlined that the bank won’t add to the squeeze by raising interest rates anytime soon. Christine Lagarde‘s message that it’s “highly unlikely” the … Read more

Gold prices today flat ahead of US Fed policy meet outcome

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NEW DELHI: Gold and silver prices hovered around the flatline in Wednesday’s trade ahead of the US Federal Reserve’s policy outcome while continuous jump in Covid-19 cases helped the demand in bullion counters. Later in the day the Fed will conclude its first meeting since adopting a more accommodative approach to inflation and pledging to … Read more