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Fed Rate-Hike Bets Ebb After Waller's Inflation Comments (US2Y:) (US2Y:) (US2Y:) (US2Y:) (US2Y:) (US2Y:)
The CME FedWatch tool showed a 50% chance of a September hike as traders bet the Federal Reserve may stay on hold.
- Treasury yields dropped on Thursday, reversing a global bond sell-off as the 10-year Treasury yield fell more than 2 basis points to 4.7680%.
- Expectations for a rate hike this month sank to 50% from 63% on Wednesday, according to the CME FedWatch, as Federal Reserve Governor Chris Waller said he'd be 'inclined to support' keeping rates unchanged later this month.
- New York Fed President John Williams called recent Inflation data 'encouraging,' while Gregory Daco, chief economist at EY, noted the labor market is in 'satisfactory shape,' pointing to a likely Fed hold at the September FOMC.
- The Dow advanced as much as 600 points and Nasdaq gained more than 1%, though Investors remain cautious regarding Inflation as Brent trades around $96 a barrel amid Middle East tensions.
- Investors now await Friday's nonfarm payrolls data and unemployment figures, forecast at 4.1%, while President Donald Trump stated the current flare-up in tensions with Iran would not last 'too long.
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Gold jumps 2% as Fed Governor Waller's comments temper rate hike bets
Gold prices jumped more than 2% as traders cut bets on a September US Fed rate hike after Governor Christopher Waller signalled support for keeping rates unchanged if inflation continues to cool. Lower Treasury yields and a weaker dollar further boosted bullion, while investors await US jobs and inflation data.
·India
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Coverage Details
Total News Sources11
Leaning Left2Leaning Right2Center1Last UpdatedBias Distribution40% Left, 40% Right
Bias Distribution
- 40% of the sources lean Left, 40% of the sources lean Right
40% Right
L 40%
C 20%
R 40%
Factuality
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