U.S. Treasury yields and dollar slip as Fed-hike bets ease
U.S. Treasury yields and the dollar fell in early trading, with market talk pointing to lower oil prices, reduced expectations for a September Fed rate hike, and a stronger yen.
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U.S. Treasury yields and the dollar fell in early trading, with market talk pointing to lower oil prices, reduced expectations for a September Fed rate hike, and a stronger yen.
The Nasdaq 100 fell 1.7% as 30-year Treasury yields held at 5.30% and rate-hike bets eased, while the optical and AI-hardware complex sold off sharply.
U.S. stocks were mostly lower by midday Monday, while the New York Fed’s Empire State Manufacturing Index rose to 20.6 in August from 15.6, above the 11 consensus.
Federal Reserve Chair Kevin Warsh used his first international appearance to reaffirm the central bank’s fight against inflation, telling a packed policy panel at the European Central Bank’s Sintra forum on Wednesday that “prices are too high,” while pointedly refusing to hand markets a signal on the July meeting. • SP