No Data
No Data
Midday: Powell continues to issue congressional testimony, US stocks maintain decline
In the early morning of the 16th Beijing time, US stocks maintained a downward trend at midday on Thursday. Investors are reviewing the results of Morgan Stanley and others. The data of first-time application for unemployment benefits in the United States set a new low during the epidemic. Federal Reserve Chairman Colin Powell continues to testify in Congress. A senior Fed official urged the central bank to reduce the size of its national debt. The Dow fell 3.14 points, or 0.01%, to 34930.09; the Nasdaq fell 115.22 points, or 0.79%, to 14529.73; and the S & P 500 fell 15.90 points, or 0.36%, to 4358.40. On Thursday morning, the yield on the 10-year Treasury note
Federal Reserve Chairman Colin Powell continues to support temporarily high inflation expectations and focus on risks
Despite disturbing levels of inflation, Federal Reserve Chairman Colin Powell defended his position of keeping policy loose for the second day in a row. He told the Senate Banking Committee on Thursday: "the shock to the system is related to the resumption of the economy and has made the inflation rate well over 2%, which of course we are uneasy about." Powell called the current price rise a "unique" phenomenon in history and said the Fed was watching closely to see if its expectations of temporarily high inflation were correct and whether inflation was likely to last longer. "so we are trying to understand the basic situation and the risks," he said. This is the first speech made by Powell in Congress this week.
Take a look at the Fed's balance sheet; it's almost double what it was at the end of 2019...
Original title: Let's take a look at the Fed's balance sheet, almost double what it was at the end of 2019... Source: FX168 Right now, the Fed's balance sheet is rapidly expanding. As early interest rate hikes are torn apart, the market is paying attention to the timing and scale of the reduction. The Federal Reserve acknowledged inflationary pressure last month, but believed it was a temporary factor due to the reopening of the economy. However, the central bank raised the possibility of raising short-term interest rates by the end of 2022 or the beginning of 2023. So now is a good time to watch the Federal Reserve's substantially expanded balance sheet. Significant increase: new in early 2020
The yield on the 30-year Treasury note fell to around 2%. The two-year yield rose above 0.25% for the first time in a year.
At one point, the yield on the two-year Treasury note rose 7.3bp to 0.282 per cent. James Bullard, president of the St. Louis Federal Reserve, expressed support for raising interest rates at the end of 2022 as traders expected the Fed to raise interest rates earlier. The yield on two-year Treasuries broke through 0.25% for the first time since April 2020, the upper limit of the target range for federal funds. Meanwhile, falling inflation expectations have pushed long-term US bond yields below 2 per cent for the first time since February. At one point, the yield on the two-year Treasury note rose 7.3 basis points to 0.282%, the highest since April 7, 2020. June 1
Codex DNA opened 25% higher on its first day of listing.
Codex DNA (DNAY.US), a California provider of synthetic biology solutions, opened 25 per cent higher on its first day of trading at $20, with a market capitalization of $550 million, compared with a previously given IPO price of $16 per share.
Head of commodity research at Goldman Sachs: Bullish logic unchanged, recent decline is a buying opportunity
Goldman Sachs Group is one of the biggest proponents in the commodities sector. The company's Jeff Currie said that the recent sharp sell-off in the commodity market was an opportunity to buy. The Bloomberg Commodity Spot Index fell 3.6% on Thursday, the biggest one-day decline in nearly 14 months. Among them, soybeans and platinum erased this year's gains. The commodity market was hit by several negative factors: the Federal Reserve signaled a potential rate hike, the dollar strengthened, China took action to reduce inflation, and rainfall improved prospects for US crop production. Goldman Sachs commodity research director Currie admits recovery needs from the current decline
No Data