NAGA Group warns potential Fed rate hike threatens US stock rally
TLT•NAGA Group warned the US stock market recovery could lose momentum if the Federal Reserve signals another December rate increase. US CPI rose 0.3%, above the 0.2% forecast, while Fed Governor Christopher Waller raised the possibility of a 50-basis-point increase.
1. Rate hike concerns
NAGA Group warned that the US stock market recovery could lose momentum if the Federal Reserve signals another interest rate increase in December. US CPI rose 0.3%, exceeding the 0.2% forecast, and Fed Governor Christopher Waller raised the possibility of a 50-basis-point increase.
2. Market and bond figures
The S&P 500 recovered above 7,600 and the Nasdaq rebounded to around 28,377. The Dollar Index climbed to 102.75, above 102.50 resistance, while the 10-year Treasury yield returned to 5%.
