U.S. stock futures started November on the back foot as investors eyed the latest Fed interest rate decision and comments.
The Treasury’s quarterly refunding statement, which details how the government plans to fund its borrowing needs, will be revealed at 8:30 a.m. Eastern. Many investors have partly blamed the move of late in benchmark bond yields BX:TMUBMUSD10Y to 16-year highs on the market’s fear about increased supply of Treasurys.
Then at 2 p.m. the Federal Reserve will deliver its latest interest rate decision. The market is placing a 99.7% chance of the central bank leaving borrowing costs at a range of 5.25% to 5.50%, so it’s the Fed’s accompanying statement and answers from Chair Powell at his press conference, starting at 2:30 p.m., which will carry the heft.
“We know that Jerome Powell won’t call the end of the policy tightening after seeing a blowout growth data – which showed that the U.S. GDP grew almost 5% in Q3, and inflation ticked higher because Americans kept spending…The chances are that we won’t hear anything soothingly dovish. ‘The higher yields help us do the job’ is the best it will get,” said Ozkardeskaya.
Finance Finance Latest News, Finance Finance Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: FXStreetNews - 🏆 14. / 72 Read more »
Source: MarketWatch - 🏆 3. / 97 Read more »
Source: MarketWatch - 🏆 3. / 97 Read more »