Financial Markets Daily Report18 June 2021
Investors are now debating when the Fed is likely to start trimming its monthly bond purchases, while the Bank of Japan announced it will unveil a new tool to support efforts to address climate change.
- Investors are now debating when the Fed is likely to start trimming its monthly bond purchases, while the Bank of Japan announced it will unveil a new tool to support efforts to address climate change.
- Yields on US 10-year Treasury tumbled the day after the Fed kept its monetary policy stance unchanged. The price of the gold fell as yield-bearing investments become more attractive.
- The S&P 500 erased its decline amid a broader market rotation from cyclical to growth stocks and the tech-heavy Nasdaq 100 advanced to a fresh all-time high. European equities declined, snapping their longest record-setting streak since 1999, with miners among the biggest decliners.
- In currency markets, anticipation of higher rates helped push the Dollar Index, which tracks the greenback against a basket of others, up 0.5%. Oil fell below $71 a barrel after the biggest drop in four weeks.