Jun 02 2021, 7:55 AM
June 02 2021, 3:26 AM
June 02 2021, 7:55 AM
(Bloomberg) Asian stocks were broadly steady Wednesday after U.S. equities inched lower as the tussle between economic optimism and inflation concern continues to play out in markets. Treasury yields edged up.
(Bloomberg) Asian stocks were broadly steady Wednesday after U.S. equities inched lower as the tussle between economic optimism and inflation concern continues to play out in markets. Treasury yields edged up.
Japanese stocks led modest regional gains, while Hong Kong and China slipped. U.S. equity contracts were flat after the S&P 500 and Nasdaq 100 closed with small losses. U.S. manufacturing data overnight topped estimates but also signaled supply shortages and labor constraints.
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Inflation Nation: Fed’s Harker Says Its Time to Talk About Tapering Bond-Buying
BRENDAN SMIALOWSKI/AFP/Getty Images
2 Jun 2021
Federal Reserve Bank of Philadelphia chief Patrick Harker on Wednesday said it is time for central bank officials to begin talking about scaling back its massive bond purchase program, going further than he has in earlier remarks and further than other Fed officials.
Fed policymakers agreed in April to keep purchasing $120 billion in bonds a month to support the economy and the flow of credit to businesses and households. At the time, Fed chair Jerome Powell said it was not time to begin “talking about talking about” reducing or tapering the bond purchases.