Federal Reserve Chairman Jerome Powell is due to deliver his twice-a-year assessment of the American economy to Congress next week. This semi-annual exercise will the first for the new Congress and new president and comes as the COVID-19 pandemic stretches into its second year.
Tokyo stocks close higher on recovery hopes philippinetimes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from philippinetimes.com Daily Mail and Mail on Sunday newspapers.
Stock markets opened to losses on Monday, continuing a drop from record highs earlier in the month, as investors prepared for testimony by Federal Reserve Chairman Jerome Powell on Tuesday.
GBP/USD: Is Boris brave enough for sterling? If not, Powell is pleased to help forexcrunch.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from forexcrunch.com Daily Mail and Mail on Sunday newspapers.
Spiking Treasury yields are irking investors as they fear the rise could affect high-growth companies that count on the bonds for easy borrowing. These yields also limit the desire for risk appetite and stocks.
Key stocks and ETFs like the
Vanguard Information Technology ETF (VGT) are falling, as Apple, Amazon, Microsoft, Netflix, and Alphabet all traded at least 1% lower. Meanwhile, energy ETFs like the
Treasury Yields Moving Upwards
The 10-year Treasury yield surged 14 basis points last week to 1.34%, near its highest level since February 2020. The benchmark yield reached a high of 1.37% before flattening out, making for a collective pop of 25 basis points in February.