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14 Jun 2013
Flash: Turbulent market to calm - DBS
FXstreet.com (London) - Research teams at DBS said that the US stocks firmed in spite of the global equity sell-off yesterday. They noted that the S&P500 closed 1.48% higher and the Dow Jones Industrial Index was up 1.21%.
US 10Y bond yields eased sharply to the day’s low of 2.12% from just below 2.18% after a Wall Street Report hit the streets that the Fed would push back market expectations that it was not only looking to taper, but worryingly, to hikes rates sooner rather than later.
The team reminds us that Bernanke is next scheduled to deliver his semi-annual congressional testimony on monetary policy on July 17-18, and meanwhile, they suggest the markets are likely to be calmer after the panic sell-off in the last couple of days, especially ahead of the weekend.
US 10Y bond yields eased sharply to the day’s low of 2.12% from just below 2.18% after a Wall Street Report hit the streets that the Fed would push back market expectations that it was not only looking to taper, but worryingly, to hikes rates sooner rather than later.
The team reminds us that Bernanke is next scheduled to deliver his semi-annual congressional testimony on monetary policy on July 17-18, and meanwhile, they suggest the markets are likely to be calmer after the panic sell-off in the last couple of days, especially ahead of the weekend.