US Futures Pare Drop as Yields Keep Traders Wary: Markets Wrap
(Bloomberg) — US stock futures recovered from session lows as investors assessed rising yields and pushback from a Fed ...
...speaker that the central bank is nearing the end of its hiking cycle. Ten-year Treasury yields rose 7 basis points.
While signs of cooling in US inflation and the prospects of a dovish tilt by the Fed had propelled the S&P 500 to its best week since ...
...June, some of the world’s largest money managers are clinging to risk-off positioning against the threat of entrenched inflation.
“Markets have been reading too much into one data print, US inflation has slowed but it’s not slow,” said Salman Ahmed, chief investment strategist at Fidelity International.
“The Fed will need more data to reassess the end point for rates.” Read more: Wall Street Managers Are Pushing Back on Easing Inflation Hopes.
“There are still a lot of risks but it seems like some of the tail risk has been clipped,” Stephen Chang, managing director and portfolio manager at Pimco Asia Ltd., said in an interview with Bloomberg TV.
US President Joe Biden plans to meet Chinese President Xi Jinping on the sidelines of the G-20, Monday. Former US President Donald Trump plans to make an announcement, Tuesday.
Fed’s John Williams, Lael Brainard and SEC Chair Gary Gensler speak, Wednesday. US housing starts, initial jobless claims, Thursday.