U.S. bond yields and the dollar swooned, while stocks and bonds around the world - battered crypto markets aside - rallied sharply.
But as Treasury markets resume trading this week, following the Veterans Day holiday on Friday, the Fed seems in no mood to cheerlead the moves.confirmed speculation the Fed would consider reducing the size of its interest rate rises next month but he stressed it needed to see more before "softening" its overall stance.
"Quit paying attention to the pace and start paying attention to where the endpoint is going to be. Until we get inflation down, that endpoint is still a ways out there," Waller said. With Fed futures still pricing at least another full percentage point of rate hikes between now and mid-June, the comments were enough to sober investors up a bit. Wall St stock futures are in the red ahead of Monday's open and both Treasury yields and the dollar a touch higher.
Still, the big banks do think the worst of the inflation spike is over - even it comes at the cost of a steep economic slowdown next year and another bumpy year on Wall St.
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Source: Reuters - 🏆 2. / 97 Read more »