Benchmark bond yields near lowest in 10 weeks as investors also bet Fed will ease pace of rate hikes.
Bond yields fell on Monday as unrest in China sparked worries about prospects for the global economy.
What’s happening What’s driving markets Investors were moving into government bonds as widespread COVID-19 unrest in China raised concerns about global economic growth. Markets are pricing in a 72% probability that the Fed will raise interest rates by another 50 basis points to a range of 4.25% to 4.50% after its meeting on December 14th, according to the CME FedWatch tool. The central bank is expected to take its Fed funds rate target to 5% by June 2023, according to 30-day Fed Funds futures.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
China reports another daily record of COVID cases as protests ripple across ChinaChina reported a fifth straight daily record of 40,347 new COVID-19 infections on Nov. 27, of which 3,822 were symptomatic and 36,525 were asymptomatic, the National Health Commission said on Monday.
Read more »
US Treasury authorizes Chevron to expand oil pumping in VenezuelaThe U.S. government has awarded Chevron Corp. an expanded license to import oil from Venezuela following talks between the socialist Maduro regime and opposition leaders.
Read more »
Fed’s Powell spurs backlash from Warren, labor advocates over job lossesFederal Reserve Chair Jerome Powell is warning of pain in the job market in the war against high inflation. A growing coalition of progressives has its own message to the Fed: Stop punishing workers.
Read more »
European markets head for lower open as Covid protests in China continueEuropean markets are heading for a lower open on Monday as investors keep a close eye on unrest in China as the public demonstrates against Covid lockdowns.
Read more »
Stock rally on strong retail earnings, moderated Fed messagingA roundup of the week on Wall Street.
Read more »
Chinese protesters, fed up with COVID restrictions, call for Xi Jinping's resignationPublic outrage over new COVID lockdown restrictions has fueled rare protests within China, with residents demanding the government to lift restrictions ahead of schedule and some calling for President Xi Jinping's resignation.
Read more »