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HERE is the thing. In the United States, the long-dated treasury yields for both the 10-year and 30-year have been rising steadily since hitting the lows last year and well into this year, especially so the past one week.
AFTER Federal Reserve chair Jerome Powell (pic) spent two days telling US lawmakers the economy is in no state to be thinking about monetary tightening, financial markets on Thursday suddenly started pricing in a rapid – and perhaps too-hot – recovery.
Global Forex MarketTHE dollar closed the week softer, down 0.25% to 90.13 but managed to recover some of its early week losses following Fed chair Powell’s upbeat speech during his two-day Congressional testimony as well as a slew of strong data release, which triggered a selling wave in the US Treasury market.
KUALA LUMPUR: The FBM KLCI tracked global equities higher on Thursday as US Fed chairman Jerome Powell reaffirmed low interest rates for the long-term.
WASHINGTON: Between deep wounds to the labor market and weak inflation, Federal Reserve Chair Jerome Powell delivered a simple message to investors fixated on rising U.S. bond yields and price risks: watch the data, and don't expect any changes in monetary policy until the economy is clearly improving.
NEW YORK: Shares on Wall Street ended higher on Wednesday, as a selloff in technology-related stocks eased and a rotation into cyclical shares continued after Federal Reserve Chair Jerome Powell's comments calmed inflation worries
FEDERAL Reserve chairman Jerome Powell (pic) signalled that the central bank was nowhere close to pulling back on its support for the pandemic-damaged US economy even as he voiced expectations for a return to more normal, improved activity later this year.
KUALA LUMPUR: The ringgit rebounded in early trade on Wednesday as risk appetite for the local currency improved, thanks to the firmer oil prices.
KUALA LUMPUR: Petronas Chemicals underpinned the FBM KLCI’s rebound early Wednesday after its strong fourth quarter earnings and also firm crude oil prices.
WASHINGTON: Federal Reserve Chair Jerome Powell, pushing back on suggestions that loose monetary policy risked unleashing inflation and financial risks in what may be an emerging economic boom, said the central bank would keep its attention focused on getting Americans back to work as a vaccine-related recovery proceeds.