Market Overview - Page 217

The safe-haven U.S. dollar held firmer on Friday, supported by higher Treasury yields and falling stock markets, as investors digested the Federal Reserve’s pushback against expectations of any early interest-rate hikes. The dollar index was slightly higher following a 0.5%.

Oil prices edged up on Friday, but were still down more than 8% for the week as a new wave of COVID-19 infections across Europe spurred fresh lockdowns and dampened hopes that an anticipated recovery in fuel demand would come.

The 10-year U.S. Treasury yield jumped above 1.7% on Thursday, its highest level in more than a year, despite reassurance from the Federal Reserve that it had no plans to hike interest rates anytime soon, nor taper its bond-buying program..

The Bank of Japan on Friday widened the band at which it allows long-term interest rates to move around its target, as part of a raft of measures to make its ultra-easy policy more sustainable amid a prolonged battle to.

Treasury yields flared on Thursday as bond market players grappled with the Federal Reserve’s willingness to allow inflation to heat up. The 10-year Treasury yield shot up from 1.64% late Wednesday to 1.75% Thursday, a 14-month high. It was at.

The first high-level gathering of U.S. and Chinese officials under President Joe Biden kicked off with an exchange of insults at a pre-meeting press event in Alaska on Thursday. A planned four-minute photo session for the officials to address reporters.

The Fed tried to return positive sentiment to the markets by suppressing expectations of an imminent policy tightening. Thanks to the announced economic stimulus, the FOMC has drastically raised this year’s GDP growth estimate to 6.5% from 4.2% and forecast.

The U.S. Securities and Exchange Commission (SEC) acknowledged VanEck’s 19b-4 Form for its bitcoin (BTC, +5.87%) exchange-traded fund (ETF) application on Monday, formally kicking off its 45-day window to make an initial decision on the proposal. If approved, the ETF.

Chinese tech company Meitu has announced the investment of a further $50 million into Ether and Bitcoin, taking its net spend on crypto up to roughly $90 million this month. The Hong Kong and China listed company purchased 386.08 BTC.

European stocks rose on Thursday in the first opportunity to react to the latest Federal Reserve decision, with the big story being the sell-off in bonds the central bank did nothing to quell. The Stoxx Europe 600 rose 0.2%, with.

The global economy is set to grow by 4.7% this year thanks to a stronger-than-expected recovery in the United States, a report by the U.N. Conference on Trade and Development (UNCTAD) said on Thursday, revising up its previous forecast of.

Asian shares and U.S. stock futures rose on Thursday after the Federal Reserve committed to maintaining accommodative monetary policy and projected a rapid jump in U.S. economic growth this year as the COVID-19 crisis eases. MSCI’s broadest index of Asia-Pacific.