Investing strategy: Early stakes in Tesla, Moderna: Baillie Gifford
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FTSE 100 opens in the red after Wall Street bond yield wobble
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US Federal Reserve chair Jay Powell’s comments last night, that the Fed was focused on its dual mandate of unemployment and inflation, and that the central bank was a long way from meeting either, would under normal circumstances have been enough to assuage market concerns about a premature tightening of policy.
By not specifically referencing or expressing concern over the recent move higher in longer-term US yields, and looking to hold the markets hand, it was perhaps not surprising that the bond sell-off continued, however whether the sell-off is sustained is a different matter entirely. The rise in commodity prices does appear to be showing signs of cooling, setting aside the continued strength in oil prices, with base metals prices showing recent signs of weakness.