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The Federal Reserve kept the fed funds target rate at 5.25% to 5.5%, but investors will look for insight from Chair Jerome Powell.
The Fed has been here before—sort of.
U.S. Treasury secretary Janet Yellen could next drop a $1 trillion bitcoin and crypto bombshell...
With Middle East tensions now eased, Wall Street can concentrate on earnings results. S&P500 up 1.2%. (Available for non-subscribers after 10am)
In a session deprived of key data, yields and the USD yesterday faced a correction on recent rise. Markets concluded that, without new data evidence on strong US demand or sticky inflation, enough Fed rate cut delay is discounted. A decline in oil prices (high US stockpiles) also supported core bonds. US yields dropped between 5.5 bps (2-y) and 8.6 bps (5-y). The Fed Beige Book preparing the May Fed meeting reported slight or modest growth in most districts.