Heavy selling in US government bonds rippled across global markets after higher-than-expected US inflation spurred bets the Federal Reserve won’t have much room to cut rates this year. Australian and New Zealand yields edged higher after Treasury yields, which rise when bond prices fall, advanced across the curve Wednesday. The 10-year yield ended the session … Read more
Spot gold fell for six consecutive days before rising on October 10. The metal extended its rebound on October 11. The yellow metal, taking support at $2600, recovered sharply on stagflationary US data that showed higher inflation and deterioration in job market and consumer sentiments. Spot gold closed with a gain of nearly 1% at … Read more
U.S. inflation rose moderately in March, but that is unlikely to change financial markets’ expectations that the Federal Reserve will hold off cutting interest rates until September. The personal consumption expenditures (PCE) price index increased 0.3% last month, the Commerce Department’s Bureau of Economic Analysis said on Friday. Data for February was unrevised to show … Read more
Sept 29: The S&P 500 ended lower on Friday as investors digested implications of a U.S. inflation report for the Federal Reserve’s interest rate policy and adjusted their portfolios on the last day of a weak third quarter for stocks. The S&P 500 and Nasdaq posted their biggest monthly percentage drops of the year, while … Read more
Federal Reserve Bank of Chicago President Austan Goolsbee said recent consumer-price data showing inflation easing was “promising,” though inflation is still higher than policymakers’ 2% goal. “It’s at least promising that this week we got inflation numbers that show inflation is coming down at a pretty rapid clip,” Goolsbee said Friday in an interview with … Read more
New York: US consumer inflation slowed in March, according to data released Wednesday, but remained well above the Federal Reserve’s target despite numerous interest rate hikes over the last year. The rate of inflation year-over-year fell to 5.0 percent last month from 6.0 percent in February, the smallest 12-month increase since May 2021, according to … Read more